Looking that the chart of the Australian Gold Index XGD according to Bollinger Theory this rise has not been confirmed yet. This may suggest that the index is going to make a double bottom at about 6000. This could change but so far we are at the crossroads on the high standard deviation. If it breakes through the resistance level at 6620 (or there abouts) - then we could see a false break or have it confirmed into the upper distribution. Basically the next week or two will see exactly what it is going to do - you may have another shot at those Gold stocks you think you missed. This would be great for me because one of my rules is never chase the price....
If the price dips again, have a look at MML. One of the Casey Research guy's said it was one of his *favourite stocks*, so I looked into it. It costs them approx US$300 to produce an oz, so they have heaps of profit. The price is down (according to Casey) because of some guerilla activity in the Philippines, which is no-where near the mine. The shares are unfortunately expensive, so you won't get many. Recommend having a look.
Nah I have my shopping list, no more mythical people- Ive looked at medusa, persius, etc Im after Eldorado, Oceana and all the other mythical places I hear 2012 is the year of mythical places, last few years was mythical people - sheesh get with the now
I heard Bollinger himself on financial sense news hour saying that the Gold bull has had a classic top and is over now... To be honest I didnt throw that away too quickly... The Bull market in Gold that started in 2001 may well be over.... BUT I am suggesting THIS particular Bull market wich has ended this year, is transitioning into another BULL market and after that.. another - because there is really nowhere else to put your money. The top was in - but realistically there is nowhere else to go other than gold, in previous bull markets there was an alternative investment to transition too - in this climate there is not - so the bull market continues despite being technically over.
