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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: zamboz who wrote (41100)2/19/2013 11:19:38 AM
From: ItsAllCyclical1 Recommendation  Read Replies (1) of 48092
 
Very few longs will buy gold here ahead of the test. What's the point? Amount of money trying to flush gold is far bigger in the short term. Only question ST is do we bounce back to 1640/1650 before flushing? So far bounce has been anemic. Best thing would be for major producers to start holding back 10-20%+ of production if gold goes below 1,600 again. Making a statement saying current environment does not reflect reality and it is viewed short term/manipulative in nature. Most have the cash where holding gold in reserve shouldn't impact them that much if it was for less than 1 year. However I don't expect anything sensible to happen across the sector - maybe 1-2 companies.
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