Gold Gold Gold! All you need to do is switch on Bloomberg or CNBC and you will hear this word a million times every hour... Every Tom, Dick and Harry these days is talking about buying, you guesssed right, GOLD. People are also talking widely about how the price action broke out technically out of the penant formation. This will be a self-fulfilling prophecy eventually and prices will rise for sure because of the fundamental reasons and the sentiment in masses.
My take:Gold MUST correct and fall upto $800, which will wash out the weak positions who are buying these days at $920. Only after that when everyone(dumb money) is off the gold bandwagon, Gold will rise steadily and rather quickly without getting much attention on media like it is getting now.
Pankaj
2 comments:
When you post these earnings data, let me know if you see any interesting names that show revenue growth of >30% and are profitable. Thanks
Sure. Will do. I remember flagging CMP on your blog when it broke out for the first time exactly a year ago..
Cheers...
Post a Comment