GREY:MPRXF - Post by User
Comment by
hrattleon Aug 22, 2012 5:27pm
96 Views
Post# 20249097
RE: RE: RE: Mega's short position dropped signific
RE: RE: RE: Mega's short position dropped signific ...seeing the comeback of POG...
The S&P 500 is less than 10% off its 2007 all time high (and at a 4-year high) - in Oct. 2007 POG was around $800/oz. I know what you mean by a comeback but it just sounds wrong when POG is double its high before the financial crisis. I find it hard to believe POG can sustain this and fully expect the one year bear trend to continue for another year. However, breaking $1650/oz was important - indicating to me not so much that POG will hit new highs but that the market in general is ready for a significant pullback.