mini contrarian gold call

K

killATwill

nice entry point to go long and strong on gold and related shares. GG locks like a nice trade up to about 26 from here (30%) gain in a bout a week or two.

today's action was a convincing shake out, imho...we will see...
 
keep your eye on spot gold / gold futures ..

if $500 is cracked again to the upside

most gold miners should do well

but if the precious metal starts to crack

and trend lower like crude oil did
after $70-72

your precious metal longs will most likely

continue any downmove
 
I can't believe it, someone is actually forecasting gold or gold shares to go higher!

This is very strange as 95% of the market (including all the gold bulls) love nothing more than to call tops, tops, tops......

For those of you holding gold/gold shares for the long term, if/when the market sentiment shifts and almost nobody dares to call a top that's you big signal to get aggressive with liquidations.
 
speaking of overnight gold - what a nice pop going on at the moment - i have a question about the main gold market during the european morning hours - i am guessing it's the london bullion fixing process - also i guess the DGCX may become important... - or is there some sort of another inter-institution market... - i just wanted to know what is the main basis for the quotes on the ZG ecbot new electronic full size contract during these hours? i presume they are arbing off one of these markets - would appreciate any info.
 
wow, price action is stronger than i thought. patentently bullish...good chance we have a melt up from here in the gold stocks.
 
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