AUD GOLD at an all time high and MOY is at a new low.
View attachment 1587319Interestingly quite a few gold stocks have violently reversed today.
Either many are thinking along the line that we have seen the best of the gold price and will retreat, Or something nefarious is going on. I think it might very well retreat in AUD terms and certainly won't collspse in USD term. After today's RBA's interest decision....the AUD gold price might retreat. It looks very high at 1900. I also thought it was high at 1800.
The conspiracy theorist inside me thinks there could be a synchronised attack all around the gold stocks. Frustrate most people to sell now before everyone knows this gold move is for real. Especially in stocks like MOY where sentiment level is at rock bottom, hit the stop losses. Scare most people to sell. Fear tactics works best in the market. Way more powerful than greed.
Although I have bought a lot but could not resist and bought more today, with few more units probably will/could enter in the Top 20 shareholders. Only time will tell whether I am a fool or something else.
6-8 months prior,I was worried about some of MOY issues, which has mostly come to pass.(had no friends then) The price has reacted, I think a little tad overdone...but that is the nature of the market. On positive it reacts way more to the upside and on negative gets worse. Now I see a highly likely chance of making some money from MOY (still no friends). I was once told if you are looking to make easy money, market is not the place to be. So true.So true.
Now just for fun purpose to those all powers at be.....
Enough....enough punishment. Most people can't take this beating anymore.
So please for God's sake, have mercy. Scaring is okay but please don't scare people to death.
