hundred dollar day
posted on
Dec 28, 2008 01:13PM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Maybe not this week, although the last 5 minutes (Sunday Night) has seen a great spike in the POG...but I think that the much talked about hundred-dollar move days (on the upside more than on the down side) will occur in January and February.
We are just $20 away from 900, and what was resistance at 850 is now a solid support. The huge expectations of the Obama adaministration and more bailout will swing markets one way on one day, and the cold reality of financial disentegration and more and more worse than expected news, earnings destruction and ultimately criminal investigations, congressional hearings and other reasons to abandon the US....will make for more and more volitile days in the market.
We don't need to see a comex failure to see gold break free.
We just need a few large investors, central banks, funds, or massed mom-&-pop investors shift into wanting a little more gold in their portfolios...to see things pop like a champagne cork.
Wow, we just took out $880.
As for tyhee. Over the holidays I took time to re-read the last two years of press releases, as well as the NI-43101 reports and the PEA. This is a great company that has the right stuff in the right place at the right time.
Happy new year, and enjoy the ride.
SKELEG