InTheMoneyStocks'  Instablog

Send Message
  • Funds Will Go Under On Gold/Silver Crash: Buy Gold Now? 0 comments
    Apr 15, 2013 12:26 PM | about stocks: GLD

    While I have predicted a move to $1,200-$1,300 on gold, many hedge funds have been buying this metal constantly. With the leverage these funds utilize, mass losses and redemptions may drive many out of business.

    I like gold down here now for a short term bounce. I am in the SPDR Gold Trust (ETF) (NYSEARCA:GLD) and looking for a multi day bounce. In addition, the gold miners are looking extremely attractive at current levels. This is a final flush and likely a great buying opportunity. Look at players like Newmont Mining Corp(NYSE:NEM), Barrick Gold Corporation (NYSE:USA) (NYSE:ABX) and Royal Gold, Inc USA) (NASDAQ:RGLD).

    The low of the day on the GLD happened around 11:10AM ET. Note the massive volume. This is called capitulation or the final flush. Also, an interesting factor is that the gold miners never made lower lows at this point from earlier in the morning.

    As the market starts selling harder, gold has also seen a bounce. Note the turn back towards the commodity as the market money exits.

    Gareth Soloway

    Stocks: GLD
Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • And he just closed out another one, $DUST for +7.55% in the Research Center...
    Jul 20, 2016
  • Gareth sold his $JDST in the Research Center here: Profit earned = +12.5%. Congrats members!
    Jul 20, 2016
  • $IWM negative already on the day. Small cap warning signal?
    Jul 20, 2016
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.