It's as 50/50 as it can be but personally, I am putting up buy orders at 68. The formation of a mountain (TA) is on it's way. Something that has run so hard are bound to do the exact opposite.
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Hi soulman. Bought some more today. I think the low is in at last peak, 76 ish. Lets see : )
Gold smashed $1,300 over night and is now HOLDING this level at 1308.
Nice timing with RMS chartwise looking like a buy window, as of yesterday's close.
Hang on for next big leg up : )
Hi Phaedrus.
Does today's bounce off 75c count ? ... and confirm an uptrend is in place ?
Cheers
Jess, RMS is in a short-term downtrend. It is making lower lows and lower highs. That "bounce" at 75 cents was just another new (3 week) low. See how all the way up, RMS was making higher highs and higher lows........ and then it wasn't . The uptrend had ended.
So, what to do? Well, the most important thing is to sort yourself out, know exactly what your aims are and what sort of trader you are trying to be. The chart below shows 6 indicators. All gave Buy signals in mid-August. Two of these indicators are suited to very active traders and have signaled an exit and then later triggered re-entry signals. The RVI has triggered an exit, but no re-entry as yet. Then there are the three slow indicators that have not yet triggered any Sell signals. These are suitable for conservative, less active investors that do not like to do a lot of buying and selling.
Me, I'd have sold at 85 cents when the trendline and OBV gave such clear exit signals, and I wouldn't have bought back. Those 2 re-entry signals look pretty weak to me - sure, the trendlines were broken, but only by the price and OBV more or less just crabbing sideways.
http://i602.photobucket.com/albums/t...sPB/RMS107.gif
Cheers. Back to the drawing board re technique. I must also re read those golden rules of investing you posted awhile back...I topped up at 85 then again at 80.5c! I'll ponder that "most important thing". Interesting once again to see that a basic price and OBV trend lines provide good flags to save capital. I guess hoping from up trend to up trend is an obvious winning strategy and not falling for a specific goldilocks : ) Ahhhgg still so much to take in vs understand.
Gold up strongly over night...$1,371 AUS / oz. RMS now has 4M oz gold resource and reserves AND technically it showed BUY again for the last few days. I hear there is a resource upgrade (of WD?) coming very shortly too. ALSO lots of activity this quarter underway so more news coming in pipeline from here to xmas. Hold on me thinks ; )
Yep, on TA, RMS looks good. I didn't like the sell side of RMS near the close, hence bailed today at 85.5. Will look to re-enter in the low 80's. Good luck Jess.
cheers soulman. More good grades today and gold carrying on higher. Will stay in anticipation of more to come for RMS.
Good call soulman