BSG bolnisi gold nl

mja - analysis please, page-7

  1. mja
    1,226 Posts.
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    BSG refusing to go down, but early days. Golds move to $540 had the smell of a mini blow off top ala Jan 03 and Dec 04. The bull wants to throw off as many as possible and a 1-2 week pullback isn't going to cut it. I wouldn't be susprised if gold fell back to $440 and traded sideways in band $450-480 for 3-4 mths but time will tell. Take home message is don't sell BSG and if gold pulls back to mid 400s, I would consider this great for longevity of precious metals bull, and there may very well be a multitude of bargains March-May 2006 (I wouldnt expect to find BSG in the bargain basement). It pays to plan for a potential severe sell off that would still leave bull intact many months ahead. As it gives you the fortitudeto pull the trigger when others are throwing in the towel.
 
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