Action on Stockhouse today is centered around the Horizons BetaPro S&P / TSX Global Gold Bull Plus ETF (TSX: T.HGU, Stock Forum) Bullboard. Gold recently dipped to under $700, and buyers stepped in. After beginning the day in the red, gold is now up roughly $18 to $732. U.S. stock index futures were halted this morning after hitting their limit down levels, but have since risen slightly from those lows.
On the HGU Bullboard, Stockhouse investors are buying one of their favorite investment vehicles, gold, via the ETF. Charlie_Chan said, “All aboard... the train is leaving the station! Last call ‘cause we are heading NORTH!”
Another investor, mikerosoft666, commented, “Looking like maybe the turn is now... holding everything going forward.” mktneverlies1 added, “Well well well... nice Friday. I traded 9000 [shares] today for a nice win for a change… I am still long a core position @ 5.85 that I will hold for 3 months min [minimum].”
Earlier this morning before U.S. markets opened, Stockhouse member Panda123 offered some broad thoughts on the gold price situation in the immediate future:
OK being from UK I have been up for a good few hours casting my net as wide as I can this morning here; many see a large rally in the POG on Monday.
This current chaos will be digested over the weekend and the reversal of gold price has to be on the table. Constructive comments much appreciated.
HGU is clearly a buy hereabouts, perhaps some downside today IMO but have we seen an end to the sell-off and is Monday the turning point?
