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19,548 Posts.
271
13/05/11
15:29
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There is too much speculative money flowing in and out, who knows what true value is anymore.
There was a gap at 2.34 from 17th Mar, which closed earlier in the week. So i would be looking for a bottoming around this region.
What interests is the Canadians are selling this down to AUD 2.22, yet they like the gold mining investments, so is it Didipio causing the drag?
Fib retrace of 61.8% from low sep 09 is $2.12.
I would be looking for any spike down below $2.20 before i would be tempted to take a position.
Fundamentally my fair value at this point time is $2.68.
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