GREY:CGOOF - Post by User
Post by
Masterbuilderon Sep 11, 2015 11:10am
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Post# 24096159
Mine field
Mine fieldIf you have been following my posts I have been bang on almost 100% of the time. That doesn't mean I wil always be right. But who is? My last post said that gold is going lower and it is. The US wants no part of a gold standard and Goldman Sachs is saying gold will have an average price of $1080 in 2016. It either needs to drop a lot really quickly, or oscillate around $1080 for a long time. What gold needs is a "fire sale" or capitulation like we saw in the stock market flash crash. This is the way I am playing it. Now, as for CNL. I have repeatedly recommeded to trade the range bound volatility and to follow the suport. Support means lots of volume and a solid uptick in price. Right now CNL is $2.38 with no volume. If you can afford to sit and watch the trading all day, you could do real well here IF??? it turns around. Be forewarned, that the stock has breeched $2.45 and the technicals are looking nasty. IF??? you do not see big volume and a good price reversal back above $2.50.... pay attention. There is no reason why this stock can't test $2.00. Remember... this is as jungle property. They burn cash and produce nothing. They need to raise $500M to make a mine. The permit news is nowhere. Net net... tread softly in the mine field.