Another more wholistic technical view is that the S&P 500 and Dow are due for another crash after the current bear market rally. I thought the 7% drop the other day may have been the first leg down , but nothing since so may take a bit longer and I think it will drop at least 30% and I expect gold stocks to sell off about half this drop, maybe 15%.
But this will then be when I am putting my cash to work. Gold stocks have a long way to go in an upward direction as the gold price rockets on a weak US dollar and continued unabated money printing by the Fed and I will take advantage of discount prices. Got to love a sale.
Will also buy some more solid stocks that have not been too affected by the virus.
Now I could be completely wrong, but I do believe that the market has disengaged from economic reality..
Christopher
RMS Chart, page-33
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Last
$2.03 |
Change
0.000(0.00%) |
Mkt cap ! $2.344B | |||
| Open | High | Low | Value | Volume |
| $2.03 | $2.05 | $2.01 | $7.459M | 3.679M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2500 | $2.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.03 | 127363 | 7 |
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| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| RMS (ASX) Chart |