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Blowoff coming me thinks

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Super Contributor
I started taking some profits off the table and getting ready for a proper pull back. And here is the kicker - I'm even considering a bit of gold (Gfi) in the interim as a believe it's one of the few things that might move up during the blowoff period. omo
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7 REPLIES 7
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Super Contributor
Will be buying that gold in some more expected weakness in weeks to come.
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Contributor
What are your thoughts around GLD? Looks like it's ready for a bounce off it's trend line?
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Not applicable
I been in ANG for a while a little down but I had 151 as my stop loss. So I hung in there. I am seeing 200+ then 225+ then 250+ by October. Maybe test 300+ next year. Gfi looks ok and HAR has been way oversold, HAR is valued at minimum of 60. Also keep an eye on gold double bottoming and the rand weakness at this stage.
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Super Contributor
There is a very important support line that gold is currently trading on. If that breaks, the flood gates will open up and a gold price of $850 could be on the cards. I doubt if that will happen, but just be prepared if it does. Gold demand is seasonally poor up to August, so tread carefully. Read this: http://www.clivemaund.com/gmu.php?art_id=68&date=2013-05-19
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Contributor
blowoff ? what u think the correction will be ? how low can we go
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Valued Contributor
I look at any gold stock chart and they all say sell, sure bounces etc .. but this is trying to catch a falling knife me thinks, only for those who hate fingers
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Super Contributor
Next support more or less: gfi 4800, har 3700, ang 15200.After that who knows? -------------------------------------------------------------------------------- This was my post on 15 April.Har has already smashed through the support,ang just about there,and gfi working its way down steadily.
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