I think that if we have a pullback in the equity markets,gold could move back above that 900 dollar mark,and than a share like HAR could fly..no??But theres always the chance that yesterdays pullback was a slight correction and the markets could move higher from here..
Well yes, but I am talking on a new low being made or a double bottom. May is previously not a good month, so chances are the next 6 weeks down as compared to the previous 6. Gold has the power to go to 990 again and the rand can go above R10, then work the rest out out? Should the market continue to rise for a 7th week then that is amazing - profit taking has to hit some time.
Why at R 75 ? Let me give advice. Go to http://www.321gold.com/editorials/chan/chan042009.html Look at the charts Mr Chan is using. Now go to http://stockcharts.com/h-sc/ui?s=vix&p=D&yr=2&mn=0&dy=0&id=0 and add GLD to the stock search and look at the exact same chart. Do this every day until like Mr Chan's chart you get a buy when the wires cross. Now buy Har and like before go to the same chart everyday until you get a sell signal, and then sell. Thumbsucking R75 for Har is not going to do the trick. Repeat steps 1-4 forever, and your chances of making money will be more or less in you favour over a duration of time.
Told you people...I think gold is going to experience resistance at around the 920/930 level,a breakout above could push it to the high 900s..alternatively there could be some good news from the US today,durable goods/home sales..and then we will see gold come off as investors pile into equity..Trading this market,one will need to gamble..much easier if you got a longer term view..everythings cheap,buy and hold..