Saturday, March 28, 2009
Last chance to hop aboard
for the short-term in most major gold stocks. I use Goldcorp (GG) for much of my short-term trading in gold stocks, as its' options seem to perform well and are liquid. Below is a daily 6 month chart of GG with my prediction for the next 4-6 weeks.
I am already in on GG heavily, but if we drift back down to the 32 level to fill the recent gap on the daily chart, I will be buying additional July call options. Gold stocks should top with the general markets in April or May, then both will go down together. The difference is that gold stocks will be undergoing a routine bull market correction, while general stocks are headed for new lows.