Sunday, July 13, 2008

Confirmation of expected move in gold

My target, technically is 1500, a wave three up move with two 8 % corrections.

A conservative trade here would be to buy OXR.AX or Newcrest. I prefer Oxiana, because it is oversold and only just recovering from the Zinifex merger, the low zinc price and deleveraging of the australian share market.

It is not the quality of the hunch, but the discipline of the risk management.

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