RE:RE:RE:RE:RE:As He Usually Does, Grandich Says It Best SPACEDOC wrote: I agree with Mr Grandich and have instead put tight stop losses of the many gold etfs and stocks like newmont,gold, wpm, Kirkland, randgold, fnv etc etc. The only thing I considered was fund managers may want gold window dressing for the quarter that ends Friday. Perhaps I’ll wait to sell than I did have some sell orders in for tdcdf in at $2.99 US but have raised them to $3.33 US.
I disagree with Mr. Grandich. Gold has been like a coiled spring for years. This breakout is significant. It will attract a lot of new investors into gold. Taking profits on gold positions now, after holding/waiting for years, is crazy. Stocks can remain in an overbought condition longer than people realize. While there may be technical pull-backs here and there, it's risky to try to call them. Stops can be easily taken out by market makers. Gold should run to at least $ 1550 to $ 1575. Bullish for gold are conditions that are not likely to reverse anytime soon including: anticipation of Fed Reserve cuts, lower USD, the potential for general market decline (flight to safety), un resolved geopolitical tensions in Iran, Korea, Veneuzula, etc. and trade uncertainties. All these macro conditioins are unlikely to change in the short term. Non gold bugs will begin to jump on the band-wagon as the news about rising gold prices starts to spread. MM