Monday, January 6, 2014
B2Clive and the gold price
Here's a couple charts:
B2Clive has actually pretty much refused to wake up to the extent of some other gold miners. Til today, really, where it retakes the SMA(50). I wonder how far it can run if it prints a higher high this week?
And gold is looking perky, and possibly might retake its own SMA(50). That will really confuse the market if it happens, won't it? After all, isn't gold supposed to suck?
I'm starting to think the action from late-November on was panic selling to get gold & friends out over everyone's portfolios by end of year. This would mean gold has a way to go still before it even retakes the equilibrium price that it was so vigourously pushed away from.
And yeah, for what it's worth I don't think we'll be seeing sub-$1150 gold this year. Unless, of course, there is a massive wave of gold selling due to a China debt collapse, of course.
And you will see selling when that happens, I think.