I would say that gold stocks will probably take some stick on Monday - purely for psycholgical reasons. Fear destroys rational thinking in most. BUT such a weakness in gold stocks may represent the last opportunity to get set in quality golds like NCM & LGL.
NCM posted a new all time high on Friday and its chart is looking awesome.
Panic selling, fear of margin calls makes some do weird things - like selling quality stocks and holding onto 'rubbish'.
When the dust settles, quality will win out and as the US$ goes down the plughole watch gold and gold stocks (and oil stocks) become stellar outperformers.
This Monday will be an opportunity to top up on quality golds, oilers and iron ore stocks. Switch from weak sectors into strong sectors that will benefit from a weakening US$.
Monday will be an opportunity to fine tune the portfolio. There's no way I will just sell all in a blind panic - that's for the fiscal lemmings to achieve.
Use the grey matter and work this correction to your ultimate advantage.
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Last
$65.96 |
Change
0.020(0.03%) |
Mkt cap ! $12.78B | |||
| Open | High | Low | Value | Volume |
| $66.20 | $66.20 | $65.34 | $16.45M | 250.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 478 | $65.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $65.97 | 713 | 1 |
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| Last trade - 16.10pm 14/10/2024 (20 minute delay) ? |
| ASX (ASX) Chart |