pog relevant to abu or not, page-8

Thanks PaddyBoy, as I said yesterday, you are a gentleman.

I woke in the middle of the night thinking I should start a thread titled "ABU POG HUI AU$/US$ Tanami rain ann grog" so we could start somewhere and let the discussion flow with input from whomever on whatever they thought was relevant to ABU. The crazy thing is that the way the system is set up means that it is actually easier to follow a couple of long threads that flow organically than try to keep up with 5-10 short threads which stop and start randomly over days or even weeks, because one is not always wondering "now where in which thread am I up to" (and post-reading highlighting doesn't help me because I alternate between my computer and my iPad; I just have to go by remembering time/date/name which is obviously easier to do with one or two long threads that 5-10 short ones). .

Anyway ... my question to the more long-term gold watchers is, how long can this rise in POG keep going before we have a correction, and maybe even a major one? Chartists: what support/resistance lines do you see? Despite the fact that POG kept going up all week (and now is at an unbelievable 1320), most of our gold stocks ran out of momentum on Tuesday arvo, many paused on Wednesday, and some had even stayed level or retraced by Friday, while others had another smaller bounce. Interestingly, ABU stayed pretty steady, not ramping up and not sliding back, suggesting the POG is important, but not as important as the impending announcements, and that the underlying sentiment for ABU ATM is "accumulate at this relatively cheap SP".

Cheers, GW