Will there be a decent correction in gold stocks?

Discussion in 'Stocks & Derivatives' started by finicky, Mar 23, 2016.

  1. finicky

    finicky Well-Known Member Silver Stacker

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    I tend to think yes, but could be some bias confirmation happening.

    This is a persuasive article for a pullback in us dollar gold. Just need the A$ to continue to strengthen or hold and there should be enough of a reaction to allow non holders to get into Oz gold stocks at a worthwhile discount?

    So his header points would be:

    1/ Heavy short position gold from commercial traders (yawn)

    2/Gold not confirming silvers short term higher high

    3/ Same confluence of 1/ and 2/ back in Oct 2015 preceded a correction

    4/ Volatility Index VIX has returned to complacent level

    5/ He says gold ($US) has had its best quarter in 30 years, and says that this is atypical for start of a bull.

    But the charts he offers show the set up best.

    http://www.321gold.com/editorials/hegarty/hegarty032216.html
     
  2. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    The gold seems heading to test 1570aud level ........
     
  3. finicky

    finicky Well-Known Member Silver Stacker

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    Hope so Ld, that should get a significant reaction. Lots of profit to protect, and i doubt that confidence in the new bull market is bullet-proof yet. Even a 50 or 60 A$ correction in gold should get a good few bailing out. Cue vulture gif.
     

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