RE:RE:RE:RE:RE:This will continue risingI agree, there is no point in selling, unless you have a better investment idea to put money into. Sitting infront of a computer trading just causes frictional costs(commissions, time spent, stress, ect.) Years ago I would try to make trades like this, and the majority of the time positive news would come out shortly after, some times hours after selling, then I'd beat myself up for missing the boat, and spending money to do so. I will occationally take profits on big moves, such as when buffett invested into HCG and the price jumped to $19 it was irrational, and it has taken 2 years to reach that price again.
goldsucks wrote: CatamaranFund wrote: Thanks for sharing an excellent article Goldsucks
Interesting comment (In US $ prices)
However, EGO experienced a decisive positive breakout of the channel pattern recently and the line resistance at $5.25 is now turning into line support where it could be wise to buy a little depending on the price of gold.
The new pattern resistance could eventually be at $6.15 (I recommend selling gradually from here). The issue is to determine a retracement pattern, and it is challenging at the moment. The best strategy is to look at the previous pattern as I have done above and accumulate from $5.25 to eventually $4.50 with a final mid-term target at $10-$11.
Cheers to all longs
Yes , good read, however personally I don't agree with selling 40% of your holdings and wait for lower entry. Unless you are savvy investor spending every minute in front of the screen might be a bad plan. Yes, if you entered at lows there is nothing wrong with taking some profits, but most retails holding ELD are still under water (keep in mind that even after recent rally ELD still trades only at CAD $1.50 pre RS. that is still 15 year low). and I would not risk selling half of my shares and missing possible upside momentum. You saw last couple of weeks how quickly things can change here. If POG holds at these levels any positive news may bring fury to the SP. Of course I don't get too excited just yet as this incompetent management has yet to proof themselve they can do something positive for a change. Too many F..k ups over the last couple of years. But with some luck higher gold prices and possible Greek election coupled with permits may be enough to give SP pretty good boost. If BURNS won't screw up anything else they should be able to sell unsold ounces from Q1 at much higher prices now giving good boost to SP. Too many positive catalysts coming to be selling at this point and risking "missing the boat".