RE:RE:RE:RE:Gold red again...KL has a major headwind...Banned47times, Please stay put. You are getting me nervous now with your constant attitude changes and I am sure others. This is a winner. You will see $ 30 by end of summer if not earlier. Today is profit taking and as I said this morning stock will open flat. Not surprised at all it's in the red after a huge run. Mr Market at work. JIN
JRafflesUK wrote: Banned47times:-
10.04 hrs - I had to take some off the table with gold under so much pressure. If I see $16 again I'll buy those shares back in a heartbeat
9.48 hrs - As much as I love you I don't love you that much. Stops in at $18
The above seems to be a risky strategy,
particularly as you have reported a policy change in the space of 12 minutes:- - To trigger a stop loss at $18 and be prepared to buy back in a heartbeat at $16 means that for the risk of a $2 fall to $16, you may never get back in.
- The above stop loss plan seemed to have been abandoned 16 minutes later when you said you had to take some off the table.
- With a 505 increase in dividend and profits rising with falling gold prices, it is likely that Sprott would be tempted to buy any shares with KL’s cash.
- Technical analyst suggest that gold is not under pressure, more likely that the $ iss under pressure. The link below illustrates that the $ has hit a “gravestone doji” signal and that gold is prepared for a breakout from a massive head and shoulders.
https://www.clivemaund.com/gmu.php?art_id=68&date=2018-04-30 Now we will look at the dollar whose impressive rally over the past couple of weeks has caused gold to drop back. Although this rally has broken it out of what looks like an intermediate base pattern, it nevertheless rates as a countertrend rally at this point because it has brought it up to resistance close to a quite steeply falling 200-day moving average, and moving averages remain in bearish alignment, as we can see on the latest 6-month chart below. Thus it is interesting to observe that a bearish “gravestone doji” formed on Friday, where it advanced intraday but was beaten back by selling so that by the close it ended up back where it started at the open - this is a bearish development for the near-term. On the 10-year chart it looks like “all systems go” for gold, with the price advancing steadily towards the neckline resistance at the upper boundary of the pattern on greatly increased volume, which has driven volume indicators to new highs, a very bullish sign. Take a good look at the volume on this chart – it has been expanding steadily since the price rose out of the final bearmarket low late in 2015. Most of this volume has been upside volume, which is why the volume indicators have been advancing strongly and recently advanced to new highs. This has been going on for WELL OVER 2 YEARS. So do you think that this bullish action for all this time is going to be derailed by a dollar rally lasting 2 weeks, or even 2 months? No, thought you didn’t – me neither.