RE: RE: RE: initiated a short position at 8.50Tomorrow could be one of the best gold stock buying days in quite some time.
People selling gold a) to raise cash, b) cover positions and c) general nervousness
So what's changed? US economic data bad as ever. US currency actually weakened today (which buffered how much gold could have gone down) and likely to get weaker now as doubts permeate. Euro economy is still in bad shape. Debt levels sky high everywhere. In other words, nothing has changed that has made gold go higher. People selling to raise money because they have to is not a fundamental change in view of gold.
Gold may start tomorrow down another $25 but I expect a rally after that. If you can buy Semafo at $7 you've done very well. I don't own SMF but do own mmp.un warrants. so I'm obviously biased. However, trying to just state the facts.
tomorrow should be a great trading day regardless.