@dsaz8701true words there.doesnt matter how many times it is...

@dsaz8701

true words there.

doesnt matter how many times it is demonstrated - most retail investors seem unable to see that POG trend is the main factor in sp direction - not stock fundamentals unless there is something really major like a CR or a major delivery failure like RSG

blaming EVN for sp going from 5.50 to $3.85 or from 5.20 back to here is largely a mug's game

its been acting to the same gold price/ gold stock index thematic as Barrick in the US, NST here etc

a bet on EVN here is in favour technically speaking - the monthly and weekly charts all indicate gold should be toward its short term low

but if POG falls back to $1650 i doubt a lot will stop the big gold stocks pulling back

fundamentals tend to impact the distance an sp travels - the better they are when the POG trend is bullish - the further the sp uprates vs peers

similarly fall more with weak fundamentals when POG trend is bearish

so you want an eye on both

but boards of companies as big as EVN cant plan that way.

personally i think the US investment bankers have been twiddling gold paper price to throw investors off the scent of the inflation protection function so they can wash investors out of stocks - and that its being set to rip higher at a point when only the strongest minds are left holding

but its also fair to say it was a doozy of a run up to $US2100 - so there was a lot of overbullish positioning theyve been able to wrongfoot

technically gold paper price is trading into a super tight wedge between the falling 'handle' of the past 123 months and the support arc structure gold price followed from 2011 to now

those kind of junctions are peak risk/return times technically speaking

the %s would suggest gold is going to go higher on a trend basis- especially as the arc is part of a bullish consolidation of the run from 2001

but its a massive massive cycle - gold can move $150 each way in a few months and still be conforming with the larger pattern

and big cap stocks like EVN tend to be the most at risk in that kind of environment.

so its not easy for anyone inclined to check the sp every week