IN response to riverred, there's so much dumping of POG...

IN response to riverred, there's so much dumping of POG contracts lately for no reason other than to smash the price down. It's quite frustrating. Gold is simply not in favor right now. All the companies did great from the massive rises after the low at 1050, but post Brexit we started seeing those frequent smashes of POG right when similar poor economic data would push gold up. Then Trump. If not for that ruddy 5% circuit breaker on the Dow futures, I think it would have kept going up that day.

They protect the precious Dow, but there's no rules about anyone out there being able to just dump epic amounts of paper POG.  Would be nice if someone regulated that more. Banker scum is a term that comes to mind :/ but this is the climate, not anything we can do about that.


Couple of you have shared some inverse head and shoulder patterns - this really excites me. If we can just kick that off above $1350ish, then I don't see why you wouldn't wanna stay invested in your goldies for a couple of years. It is showing strength at the moment anyway - the way it's bounced back after the last few dumps of paper.

If POG can get to $1400, I fully expect the love to come back to the gold sector. It's still arguably trending lower, or just years of sidways consoldation:


I'm pretty sure I've turned into a long now. I'm certain BDR is a bargain here. I do think the mill upgrades and power savings will turn us around from here. Just so long as the POG can break higher, heck, if you are patient enough (and some already in this boat ) you could lock in a 12 month CGT discount and do well here I think, hence I continue to hold till we at least see the 34.5c gap filled, and then I'd considering holding for at least the other one at 41c. That's a bag worth waiting for. Just stop me when I'm in the green from trading it and missing gains like I did in 2016