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Online Share Trading

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Gold bulls tread carefully

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kwagga
Super Contributor
To everyone long in Gold right now. Tighten those stop losses. I had my suspicions about a pull back in the $Gold price for a few days now, and the longer the Gold price hovers at these levels the more confident I feel that we are going to see a pullback $HUI(Gold Bugs Index) had formed a triple top. The banksters are pulling in more and more suckers while they get their shorts ready for this multi month correction. Then we move up again and hopefully we get a close above R 109 on Goldfields and then the party will really get starting. Short term stuff, so long term investors ignore the comment above. omo
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4 REPLIES 4
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Yip i agree - line up them shorts guys with everybounce. Good money to be made on the short side.
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Watch if the 1250 support level holds for near term direction.
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Ja Kwagga,the negative divergence on the weekly $Gold chart agrees with you.A short-term plunger and the Cash must be waiting.
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In general gold shares have been lagging the $gold price so in my mind i wont be long them. So expect their shareprice to take some knock if the gold price starts tumbling down.
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