mr.ed;
Here is WRM.to
chart.stockwatch.com
WRM traded up to .42 as Gold Dec contract traded up to $329, almost break that $325, then retraced to $305 closed @$310, now In Syney gold traded down to that $306 in a very narrow ranges.
WRM exactly followed that gold price move up to .42 then retraced to that .36 actually .37.
Gold will gain support at $305, maybe a bit penertrated $303 then it will have huge rally and soon will break that $325 then I see gold $400 level.
Both gold fundamental and technical are very bullish, especially that technical.
here is TSE gold and silver index
chart.stockwatch.com
This index had a big breakout, it showed lots of power and strenth, except it moved a bit too fast, and this why correction set in in open up up and closed at lower end exactly like WRM, WRM might penertrated to that .33 but it presented very good opportunity to buy low.
Everything looks good unless gold traded below that $300 marks again.
I strongly doubt that it would, as fundamental by centre banks has changed, thjat is why gold has big rally a move of $80.00 in few days.
Centre banks conceding it gold sale and leasing policy is a permanant factors not temperory, it is a long term not short term. That is why gold will gain support at $303, and WRM at .33.
Buy arrgeesively while you can WRM, and WRM only unless you want blue chip gold like ABX or PDG.
But WRM company itself announced today they will buy 2 mil shares out of market as they deemed that .36 is far to low for WRM value, you see.
Yeap, for sure, I agree with you $2.00 for the near future.
I shall play longer term this WRM unless othjer factors have een changed like fundamentally and technically.
Other wise I stick to that $2.00 longer term.
John Paquet |
