Saturday, 29 September 2007
Looks as if it is shaping up for another deluge for gold stocks
I tried to sell some shares in various US goldstocks yesterday only for my automatic trading platform to fail in each execution. Prices then fell into the close. Gold and silver stocks are acting sluggishly as if this rise is being sold into in expectation of a plunge in October. The commercials are also short gold in a major way unless the latest COTS report suggests otherwise.
I'll either sell a third of the US stocks on Monday or endure the next ride down on the roller coaster and just hang on. Going into next year gold and silver stocks should be much higher from where they are now. Doing nothing may be the only option.