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$23.35 newcrest mining limited

It is called short covering. That is it. Take advantage of it...

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TeTeTe

2,304 Posts.

11/12/14

23:43

Post #: 14448632
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Originally posted by Orwell ↑

I went leveraged long today. Can't remember when I last traded this stock. Struggling to overcome my fundamental view that it's a dog stock in a a dog commodity. The gold trade was for the GFC, not the recovery. But technically the weekly chart looks terrific and i got a long entry. Had to close eyes and just buy it.

Trying to understand why the money's flowing to it. Appreciate Sydneyguys analysis and thoughts on improving price in AUD terms. That's one aspect worth backing. Also a commentator on TV this morning thought the Dow drop last night was like a margin call from all the govt's and sovereign wealth funds underwritten by oil being forced to cash in investments to raise capital. Interesting thought. It suggests lots of risks in the world along with the various distortions from currency wars. Maybe gold is attractive after all

.I don't really know though. Just the chart says loudly it's going up, so I'm long. Interesting times.

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It is called short covering. That is it. Take advantage of it and go short.

NCM Price at posting: $10.85 Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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