GG republishing previous forecast untouched and still in tact
Re-entry short here in GG. The rally on Bernanke comments about ready-and-willing QE stimulus put a pop in GG shares. If you read the previous chart comments, you can see my thoughts on the decline and now that we have had a good rally on news, it will likely be a decent risk:reward entry for the continuation of the downtrend in GG shares and gold mining shares in general. GG is very similar to the other major gold stocks. Note that I put GG as a pairs-trade with ABX before. Either way, the main point about mining shares is that they have historically had very low returns on capital (source: Yahoo finance) and over time, capital tends to flow in the direction of higher relative returns.
Risk 3 average ranges. Reward: new lows for this move.
2:27PM EST 3/27/12
Risk 3 average ranges. Reward: new lows for this move.
2:27PM EST 3/27/12
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