I think you are right Moleman, shorting the market after buying (left hand feeding the right, CFD's etc.) doesn't show up as substantial holdings. I believe 5% or greater is the ASX rule for substantial holdings (please correct me if I'm wrong).
Jaibrie has been buying the most lately (ie substantial holders). They appear to be the "real" investors, but a lot of shorts out there atm - just look at the price depth.
Monday will be interesting to say the least - Friday night DJIA up 300 and GOLD spot down about $16 to critical support level around the $855 mark! I want to see Gold price "fly" off these levels, otherwise it could set a secondary trend down. Ultimate support IMO is the $845 mark. In general commodities are down atm, mainly due to the USD strength, but will it last is the million $ question???? Reporting season in the US has only just begun, and IMHO it could get ugly. Depends on how much bad news they can shrug off!
It's just so complex that every "expert" has written different stories on the possibilities of the US economy.
IMHO Gold is king (after cash atm ;) and will lead us into next year, so depends how long one can hold on. If leveraged then maybe best to be cautious, I'm LT so not worried too much.
This is all my opinion from what I've read and researched, no advice intended.
gold price down. think kcn, page-32
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Last
$1.28 |
Change
0.020(1.59%) |
Mkt cap ! $327.9M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.29 | $1.24 | $1.722M | 1.364M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10269 | $1.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 10400 | 2 |
View Market Depth
| Last trade - 12.47pm 12/11/2024 (20 minute delay) ? |
| KCN (ASX) Chart |