Proven Track Record of more
than 332% in 4 years.
05-07-2013
04-23-2013
04-22-2013
04-03-2013
One stock I would like to point out tonight is Nevsun. I don't own any of this yet, but what I want to point out here is the relative strength this stock is currently displaying vs the other gold stocks. Nevsun is at the same level it was back in Feb. When the gold stocks do reverse trend, Nevsun will probably be the first one out of the gate to breakout. Plus it currently pays a 3% dividend at current prices.
Just like I expected, the gold stocks are now testing out their lows. I haven't seen any indicated that this decline is overwith just yet. If you are short I would continue to hold. A breakout above the 112 area would indicate a reversal in the current trend. I would like to see some wide price spread as well as more than just 1-2 days of an upmove to get me excited.
Do I believe that the gold stocks are near a bottom? Yes I do, but with that said, in a panic sell off things can go much farther than anyone would expect.
Original write up below....
We are currently up around 12 dollar on this trade or around 28%. I would at the very least place your stop just above 34. Friday could have marked the end of the shorter term trend.....see chart.
Original writeup below...
At the very least I would place stop just above the recent highs.
The original trade setup is below
So far we are up around 9 dollars on this trade. I have updated where I believe you should place your stop at this time. I have no idea if we just test the lows or if GLD will break through them, but at this point I believe we break the lows to test out the higher 120's.
Original Trade Below....
