Wednesday, February 16, 2011 10:28:15 PM
The skeptics here are longs.
But I will say something of immediately encouragement. A technical bounce is indicated right now. The only thing missing is some volume. Tomorrow would be an excellent opportunity for this company to PR something meaningfully positive, if there is something.
As far as gold is concerned. Without production of consequence it means little to the SGCP price. But I can tell all of you, the $Gold chart is right now in the strongest position it has been since August. Scarily strong. Through 1383.98, it sees 1401.73 then the all time high of 1430.60. Then 1459.60. Then the daily target of 1552.94. Relatively big resistance, but then to the weekly high target of 1772.05.
This is not comforting stuff for our economy.
Now if you think this post is nonsense. I am one of only 2 people in the world. My trading partner being the other, who called the Oct high target of 1387.10 to within a buck, 18 months prior to it hitting. 3 months prior we narrowed it to the penny 1387.10. 1387.10 is the pivot around which gold has revolved since Oct. 14th.
If this is the only gold position people here have, you need to adjust.
Write it down. I half hope I'm wrong this time.
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