Currently, the upside for AllOrds/ASX200 would be a bit limited as we alreay had a nice bounce from around 3200 in Jan 2009.
IMO, global eonomy will remain instable and gold price will be going up as gold is safe-heaven and China government keeps buying.
The gold stock would be a good choice to fight uncertain global stock market. This is why I decided to buy a gold stock.
The reasons why I bought EKM (Current market cap ONLY $26m):
1.Alread has a Gold Resource: 749,000oz.
2. Uranium Resource: 6.2m lbs
3. Potential:
Yamarna Project is potential for multimillion oz as it loccates north of 5m oz Tropicana Project
Dow had a deep red finised this morning, ASX200 down around 60points, we would say a bad open for overal market similar as last thursday, but GOLD stocks were up due to gold price keeps heading north. EKM is heading towards 20cents!!!
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