RE:Big Improvement today in NFG......
DanWarren wrote:
NFG opens WAY stronger.....My gut feeling is that we have seen the lows for NFG, or, that another fall to the lows will show that NFG price will hold.....maybe a brief lower low, but quickly reversed.....I have noticed that the NFG chart looks stronger than the GDXJ chart ( junior gold stocks).......and, remember, the SHORT position is still about the same, around 1.85 MILLION shares short on the two exchanges combined.......that is a powerful pent up demand for NFG shares.......IF we start getting good news, or IF the FED issues some somewhat dovish indications, the effect on NFG could be quite significant, possibly...... Listen to that interview of the Irish-Canadian Investment pro I linked in my last comment ( in the quote of my previous comment). He points out that ALL the signals he looks to for gold movement up or down are Bullish, save for the stance of the FED........But, good news flow from NFG could be another factor for the price of NFG which could counter continued hawkishness of the FED. That interview was very enlightening, as he elaborates on all the BIG PICTURE events/ possibilities of the problems that are weighing on the FED that might force them to indicate some degree of dovishness.....it won't take much to signal a more dovish stand, even if it is just to indicate a smaller interest rate rise than the markets expect.
we have already reached the lows at 4.09 and now building a base between 4.98 and 5.70
unless something terrible happens to nfg or in the gold space I doubt we will trade below 4.98 again