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  • Randgold Moving As Expected 4 comments
    Jan 13, 2014 11:12 AM | about stocks: GOLD

    The morning's session began with Randgold Resources Limited (NASDAQ:GOLD) opening gap-higher.

    The previous report on GOLD indicated that our expectation was for an impulsive move higher. Thus far, that is what is taking place.

    (click to enlarge)GOLD Daily Chart

    Charts by StockCharts.com

    We may see successive higher lows until the first area of resistance is encountered at 65.30.

    Our hard-stop remains at 59.19 and we now have a soft-stop at 60.82.

    The probability is that neither stop will be threatened. However, there is still the possibility of a price spike to the down-side (a test), just to keep everyone a little on edge.

    Disclaimer:

    This report is for discussion purposes and contains our opinions only.

    This posting is to publicly document our thinking and market analysis actions within the Three Ten Trading entity. The data was obtained from sources believed to be reliable. However, we make no guarantee as to the accuracy of that data.

    Investing or trading in equities, futures or options may result in a significant loss of capital, total loss of capital or a loss greater than available capital.

    We are not advocating any stock or in any way offering portfolio management advice or stock selection service.

    Respectfully,

    Paul Mosgovoy, President: Three Ten Trading, LLC

    Thank you for reading.

    Disclosure: I am long GOLD, .

    Themes: Long ideas, Gold Stocks: GOLD
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Comments (4)
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  • JTCornpone
    , contributor
    Comments (4) | Send Message
     
    I belong to an advisory service which is recommending GOLD, with a stop just above $58, so there are at least a few bulls out here.
    13 Jan, 12:40 PM Reply Like
  • Paul Mosgovoy
    , contributor
    Comments (113) | Send Message
     
    Author’s reply » Thank you for the comment,

     

    Without you having to divulge information that you purchased, can you say if the advisory is technical, fundamental analysis or both?

     

    Have they reviewed other gold miners in the sector (i.e. the senior miners)?

     

    Thanks again.
    13 Jan, 01:38 PM Reply Like
  • JTCornpone
    , contributor
    Comments (4) | Send Message
     
    Sorry to reply so late, but hadn't noticed the question. The advisor is primarily technical, but has a good understanding of the fundamentals as well. The position was closed out on Feb. 3 with an approximate 17% profit. He does review other gold (as well as silver miners), and his advice - open to all - is that some of the large GDX companies have taken on too much debt earlier, and therefore picking individual equities is much better than the GDX.
    15 Feb, 10:57 AM Reply Like
  • Paul Mosgovoy
    , contributor
    Comments (113) | Send Message
     
    Author’s reply » Thanks, I appreciate you getting back to me.

     

    A 17% profit is a good gain.

     

    From what I can see, Randgold may be heading much higher. It is currently at resistance in the 80 area, but its action from the low has been essentially straight-up. I don’t recall when I have seen that type of action.

     

    There have been 16 gap-higher opens in GOLD since the January 10th pivot. Six of those gap-higher opens were in-a-row…….incredible. This indicates substantial strength.

     

    I am now looking for another entry indication to increase the line. Not sure if that is going to happen at the 80-level…….. it might, if we are lucky.

     

    Thanks again
    15 Feb, 11:31 AM Reply Like
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