I'm buying GOLD for the 3 Stocks on Fire Portfolio at today's open.
Details on the first update after the close.
(This recommendation was made by David Randolph from 3 Stocks on Fire, and he will update this analysis everyday after the close until he sells the stock. The 3 Stocks on Fire Portfolio is up 159% since inception on 28th of April 2005 (http://www.3stocksonfire.org/3stocksonfire.php). 3 Stocks on Fire is a Community of stock traders and investors. Our 3630 members exchange trading ideas and strategies on our message boards everyday. We welcome you as a new member of the 3 Stocks on Fire Community, please take 10 seconds to register (http://www.3stocksonfire.org/trading/index.php?action=register) and receive our free newsletter)
Again, the same thing on GOLD, the stock did close above resistance and at a new all time high, despite of the profit taking from some investors that had big short term profits. The trend is extremely bullish on GOLD, I'm very happy to hold it and the other 3 gold related stocks on the 3 Stocks on Fire Portfolio.
This still looks like a retest to a broken resistance level. GOLD is as good as gold and I will keep the stock some more time.
GOLD was the only stock on the 3 Stocks on Fire Portfolio that rose today, so the sentence «as good as gold» makes sense when it comes to GOLD stock.
I just want to give GOLD a goodnight kiss :-*, this was a pleaseant way of finishing today's updates, after the blood bath I took on other stocks.
GOLD continues pushing higher to all time highs, so it has relative strength relative to its peers. This is the kind that I want and I will certainly continue holding GOLD for the foreseeable future.
GOLD is the strongest golden horse that I got, and in trading one always needs to hold on to winners.
As I've explained on the GSS and CDE threads I don't want to hold anything gold related now. A good trade is profitable right from the start and this gold trade wasn't. I'm not confortable with the $XAU failing to make new highs when the gold price did, because historically stocks have lead bullion and not the contrary.
So I will sell GOLD at today's open.