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Pastimes : The Philosophical Porch
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To: Real Man who wrote (6992)12/9/2014 12:32:33 PM
From: Rarebird  Read Replies (1) of 26251
 
All it took was a drop of 1.5% in the S&P to get the POG to rise over 4%. Of course, all that matters is confirmation from the Miners. Given retail tax loss selling, that will likely wait till January, which should see a monster advance. It is the rise in the S&P that is the prime source of downward pressure in regard to the POG and Mining shares, not some phantom gold bug conspiracy theory.

$1210 resistance finally taken out. Next resistance $1240-$1270, the lower end of which was touched today.

Duh, the market finally is taking into account (?) what the drop in crude oil really means and what the average Joe already knows. With a rising POG, that only means increased profit margins for the miners.
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