I hope you all took advantage of the price drops in our favourite stocks.
The TTGD Index bounced up to 410 and then settled the day at 395 which is still up from yesterdays lows. The index did what it needed to, went the 50 dma on the day it need to do it. Now we need to see some follow-thru and hold these gains in the next few days and trend above the 50 dma, that is when we will start looking at taking some profits in the next week or two, possibly sooner.
Update at 10:20
If you bought shares in the last 3 days, great they are already up.
Don't sell just yet, this rally can still run up from here over the next few days.
If you bought a core position (long term hold), do not sell at all.
If you bought a trading position and you want to booking profits soon, look at placing an limit sell order with a 1 week Good Til date at about a 10% premium from here.
Look at AAA-V - Allana Potash, we recommended it last week under $0.90 and today it is already at $1.00, and I think it will go to $1.15 - $1.20, that's when I am looking to take my short term trading profit, but this is definitely a long term hold.
KGN-T Keegan Resources is up nicely too, after going below $5.00 we have been recommending it to members. We liked it under $7.00 and we definitely like it now. When the time is right Golden Fortunes members should look to sell their trading position, we will be sending out suggestions at what price to start taking profits.
SSL-V Sandstrom Gold was highly recommended a buy under $1.00 and today it's at $1.19, a nice 20% run in 2 days.
GWY-V Galway Resources recommended by at $1.00, today at $1.15, 15%.
Our HFD-T trade is right down to the price we bough it at, so does this means everything is OK with the financial world and banks are a good investment? Maybe the market knows more than me because financials are rising with the overall markets.... Just like the Fedi was successful in attacking gold, maybe he is now rewarding his banking apprentices with gains in the Financials. HFD is something to watch, but not a trade at this moment but could easily turn into a trade, when it does we will let members know.
If you bought these stocks in the last few days when there was so much fear around gold, good for you, the Golden Universe has rewarded you for your bravery. Feel free to take profits at any time based on your trading objectives. We can only help you make buy decisions when the time is right. When and how much profits you want to take is up to you. Golden Fortunes members will be given some price objectives on where we see the price moving to, but in this crazy broken world of finance anything is possible so you have to manage your money and trade. We will help lead you down the Golden Path but when you decide to leave is your choice, just make sure you leave it with some Silver in your pockets.
TTGD - S&P/TSX Global Gold Index - 3 Year Analysis
We just finished a 5 wave up pattern on the TTGD from Dec 2008 to Dec 2010 - 2 Years in the making. The ABC correction that started in Dec 2010 was over by June 2011 - 6 months of pain but the correction finished. Now we are starting a new longer term (2-3 years) major wave up in the TTGD Gold Mining Index.
The 1st long term wave up that we are in consists of 5 waves, in which 4 waves have already been complete.
I think we are starting the 5th up wave, which should be the blow off top before we get the next serious correction.
The gold stocks have a chance to make an amazing run up in price over the next few weeks if this 5 wave up comes true and can possibly beat the highs made at the beginning of Sept. Something we will watch over the next few days and weeks.
If the gold index does start this final 5th wave up, it could move the index to about 480 – 500 before a major correction.
I still believe this is possible for many reasons which we will share with Golden Fortunes Members.
Yes, I am optimistically bullish right now on the gold stocks and if I am right, we still have a 5 wave pattern ahead of us and will present some great trading opportunities. If I am right, we still have a lot of money to make being long in gold stocks right now.
Stay Long and Strong, we could be greatly rewarded in the next few weeks.