As time goes on we all develope a certain way of trading ... Boogo with his crystal ball and excuses when it doesn't hit expected targets eg. Plan A if not plan B if not plan C and so on so your never wrong. Like a politician always with a back up plan. What are your tea leaves telling you with RED tomorrow more to the point.
My personal opinion of RED from a Chartist point of view would be to sit on the fence and wait for a reversal in trend but from a fundamental point of view ask yourself where the POG is going.
Tomorrow imo RED will fall as will the price gold overnight. ( temporary imo) Sold the 10000 i bought the other day @ $1.21 for a profit and looking to buy back in tomorrow.
Will continue to play with RED in this manner while still holding a number of their shares for when there's a reversal.
Low volume but certainly RED is making positive ground. Buyers out weighing sellers sp $1.29.
Could be the beginning in a reversal of trend ?
Havent had a really good look but it looks ok.
Considering the strong performance of the Euro against the US over the last week or two, you'd think gold would have been showing a bit more strength. The Gold stocks have, but not so much gold itself. Either the stocks will go back down or Gold will strengthen.
I'm betting weaker gold as Euro fades against the US, with some shorts on Gold stocks. Not RED, with fingers hoveing over mouse to stop loss.
Still don't think there is justification for more printing just yet and that could be making this rally turn.
The only thing that should strenthen Euro against the US is printing. Fiscal cliff is bullsh$t.
Forgive me I'm dyslexic.
I've been taking on board your tech analyst. I dont know if i'm reading the the charts correctly but i liked the look of BPT SWM & TGA. I find that the likes of RED with it's volume a worry in that it's harder to trade in and out of whereas BPT seems a bit easier to predict.
Getting of RED a bit here but when looking at a company on their fundamentals (why i hold and trade RED) would'nt it be better to trade a stock that has a higher volume of interest regularly like BPT when trading short term?
I just managed to buy SWM yesterday @ $1.57 on close by looking at it's chart and watching it's buy and sells prior to jumping on board.
Definitely an interesting way of trading but I could'nt trade like that on it's own without knowing the fundamentals.
A follow up to my post here -
A downside pattern seems to be forming, volume is dismal.
(click to expand)
Si Hoc Legere Scis Nimium Eruditionis Habes
Definitly would be taking that off the table. NCM turning today and smallers soon to follow as Euro weakens againgst the US.
Forgive me I'm dyslexic.