Now the interesting part. Is 2morrow gonna be a dead cat bounce or a
resumption?????
I am a long term metals bull, economy bear. Oil and metals took a beating
today and even i was scared to buy in the midst of the ugliness. Gut
wrenching correction or reversal?
I am a student of the markets and an investor. Today it taught me a big
lesson!!!!!!!!!! My favourite Canadian Oil Sands got spanked badly.
Howdy slim,
Well, I too got hammered, so don't feel like you're alone. Also, I am
a long term gold and pm bull - and nothing has changed in that regard.
All along this run, sine 2001, there have been corrections and
consolidations and none have cracked the long term trend.
Earlier I heard about support in the 520-525 range, but yesterday heard
the 537 line as support. If we crack 537, I'll probably lighten up.
If we hold here, I'll be buying more on the dip.
best,
rono
rono <> wrote:
> Well, I too got hammered, so don't feel like you're alone. Also, I am
> a long term gold and pm bull - and nothing has changed in that regard.
> All along this run, sine 2001, there have been corrections and
> consolidations and none have cracked the long term trend.
> Earlier I heard about support in the 520-525 range, but yesterday heard
> the 537 line as support. If we crack 537, I'll probably lighten up.
> If we hold here, I'll be buying more on the dip.
I'd say $470.
Hi Sanjay,
rono <> wrote:
> Well, I too got hammered, so don't feel like you're alone. Also, I am
> a long term gold and pm bull - and nothing has changed in that regard.
> All along this run, sine 2001, there have been corrections and
> consolidations and none have cracked the long term trend.
> Earlier I heard about support in the 520-525 range, but yesterday heard
> the 537 line as support. If we crack 537, I'll probably lighten up.
> If we hold here, I'll be buying more on the dip.
"I'd say $470."
There are a bunch of support levels all along the road. 537, 520-525,
500 and I've indeed heard of 460 being MAJOR support. At this point,
as long as we stay in the 540's, we're just backing and filling and
that's very bullish for the next move up.
peace,
rono