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Online Share Trading

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So much for that

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fng
Contributor
O well gold and oil all both retracing i take it tomorrow definately a short then? will that gold ever see the 1000 mark that everyone has been saying it will happen supposedly from last week... yeah right!!!
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11 REPLIES 11
Surf_Rat
Super Contributor
If you trade ETF GLD keep an eye on the rand dollar rate if gold can stay at $950 and rand weakens to 850 to dollar then ETF should be 80.75 the mines like harmony and gfi have no rules only gold bugs understand their Physiological nature
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jack12
Super Contributor
In most articiles it is mentioned that that will only happen AFTER a pullback, so I would reckon you are a bit early, IMO the move will only start next week as gold has not had a significant pullback yet.
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OR: gold might pull back to 880 and test 1000 again over 4 months time,.. if the previous patterns persists.
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Even with the help of a weakening US currency, the gold price will find it "challenging" to break through the psychological $1 000/oz mark in the next six months, unless strong bearish sentiment returns to equity markets, Australian equity researcher Resource Capital Research (RCR) said in a report this week. In its latest quarterly report on junior and midtier gold companies, RCR predicts gold will trade in the range of $900/oz to $1,000/oz during the next six months, but adds that it sees slightly more risk on the downside if equity markets continue to rally. (engineering news)
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been waiting a week for this pullback....gfi/har presented a MAJOR buying opportunity this morning.adios
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fng
Contributor
buy this major buying opportunity you mean?
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err.. MAJOR selling signal I think, I'm definitely not buying on a downturn after resistance.
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jack12
Super Contributor
lol maybe its time to buy SHORTS?
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Shard
Super Contributor
I'm backing dinen on this one, I'm long HAR atm.
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jack12
Super Contributor
where is your stop loss? you might have to hold for another few days!! IMO
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Shard
Super Contributor
My stop is where it should be
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