You don't think we will get a dip? Well, I'd preffer it that way, all in all. I'm just looking at the trend support and thinking to myself that it won't hold out. If it rises too high too fast then expect a correction and it won't be pretty, but not as bad as the earlier one, yikes!
Sorry just to clarify, I don't mean the stock will literally do nothing but head up for the next couple of months with some very minor falls, of course there could be corrections.
But unlike previously, at this stage, given the information that is out (and this course of course change in the blink of an eye), given my predictions, I do not see anything
major, so as you say any future correction in the next 1-2 months, in my view, will not be very significant.
For the last few months, I have been trading RED pretty short term, sometimes a few hours, sometimes a few days. My latest buy was at the beginning of this month, and at this stage, I feel comfortable enough holding until some significant event happens or significant news comes in (negative), regardless of upwards/downward sp movements. In my view there will be far more upside in the coming 2 months (again, given nothing majorly bad happens - but I do not expect it to) than downside.
Of course I am still watching RED and gold prices and news like a hawk. Make no mistake, there are still risks. If the EU decide for Greece to default at the G20 summit next month for instance, that in my view has the potential to be quite bad (flight of euros going to the US, gold price tanks, markets tank - double wammy). But this is just one possibility. It could be that the EU decide for Greece to default, and bring out a massive package to recapitalise banks, ensure growth in the periphery and commit to greater fiscal unity in some way. This could be seen as very good. Of course they may just elect to do not much of anything apart from commit to recapitalising troubled banks only, which may well be enough.
That single event and decision is the only thing on my mind right now, overall gold is in an uptrend and nothing is going to change that - but depending on what happens with greece, the uptrend might suffer a setback, and/or the market might suffer a setback.
Apart from that, there is not much else that in my view will have a major impact on RED in the short term of the next 1-2 months.
I am still of the view that the market is in a dead cat bounce, but there's nothing to say it won't last into next year, taking RED with it, and keeping gold up.
This is just my analysis and opinions. I am confident well enough that RED has strong fundamentals and should be priced higher, and so I tend to try and see the overall picture of the global economy and markets in the hopes of figuring out how it will affect RED's sp. Same for all of my picks.
Lastly, if the ASX gets over 4300 with strength, I will also add to my position, as I consider that being a strong short-term signal.
Happy investing everyone, I do truly hope the long-term investors get a big present for Christmas.