GFI

[Russ]

Why do I have this feeling it's about to take off?

[kwagga]

I honestly don't know. Gold is in seriously overbought territory, and needs to either consolidate for a while, or correct. My feeling is it will go down with the rest of the market, seeing that it has run up with the market. Go figure, the US Fed promise to make more debt and everything goes up - gold because it's seen as a save haven and equities because money has become cheap in the hands of the US gov. It use to be cheap in the hands of the US consumer and looked what happend. I think 11300 on the DOW is going to be the trigger down http://stockcharts.com/h-sc/ui . My finger is on the sell trigger. I'm getting nervous, waiting for confirmation.

[Russ]

None of the gold miners or the gold mining index appear overbought.The sto and rsi are generally quite low and moving upwards-still room for upside in my opinion.

[kwagga]

If that overbought $/Gold price drops so will SA gold stocks, and it's way, way overbought. This is a toss up Russ. I don't know. I'm getting nervious and would rather wait for GFI or Harmony to break up before I buy. No use anticipating too much what will happen in the next couple of days/weeks.

[#5]

Look at HAR it has been completely dead for a week or 2, It is so dissapointing. I got quite a bit in it because Gold prices held 1340 and looked as if they were taking off again. But we will see as I got a feeling its going to break out like 5-10% up in a day then have really good consecutive days gains

[djw]

I so - why was Harmony was only up 0.1% in NY where as all the other gold shares were up almost 3% - surely would be safer to buy one of the other gold shares

[SimonPB]

beccause you own some ??

[3JN2]

As long as we agree that gold shares are for short term trading - not long term investing. ANG is my second best trading share (after SOL)

[kwagga]

Expressing hope in numbers I see. Never works for me.

[#10]

Kwagga you always diagree with what I have to say. I called it to go up twice of late and you said I was wrong. Time to start agreeing with the Snap! ;p

[#11]

Kwagga you always disagree with what I have to say. I called it to go up twice of late and you said I was wrong. Time to start agreeing with the Snap! ;p

[#12]

Kwagga you always disagree with what I have to say. I called it to go up twice of late and you said I was wrong. Time to start agreeing with the Snap! ;p

[#13]

Talking about the gold price

[kwagga]

You sound just like my wife. I'll agree with you when I think you're right, but currently for some reason your judgement seems a little clouded by gold's shine.

[#15]

All gold shares have been hovering around their resistance and suppport levels for a couple weeks now. They going to break up or down shortly and turn quickly either way.

[Russ]

Seems my timing was out.I agree snap1.Gfi has been in a symmetrical triangle for the last month.The support is just holding at the moment.