BUY VEN.TO $5.68
Gold continued its rise to $1000 today and gold stocks continued to shine. YRI.TO was up close to 4% today and since yesterday I'm up +9% with the follow through today. I am still a bit cautious right now as gold trades near its multi-year highs and will look to take profits on any weakness. Gold has closed above its June highs but early Feb highs and Mar 08 highs are providing some solid resistance above. I think we have to see a close above those highs before we can really get excited. With continued US$ weakness, I think we may be able to breakout but we'll have to wait to see if that happens. So don't load up on gold just yet, but having some gold exposure is a good idea to hedge your long portfolio with any market weakness.
VEN.TO broke out today with good volume and this is another gold play. This stock had a really nice run back in early June and has since traded between $4.50-$5. Today it had a short term breakout and the 20 and 50 day MA right below should provide some good support.
Gold continued its rise to $1000 today and gold stocks continued to shine. YRI.TO was up close to 4% today and since yesterday I'm up +9% with the follow through today. I am still a bit cautious right now as gold trades near its multi-year highs and will look to take profits on any weakness. Gold has closed above its June highs but early Feb highs and Mar 08 highs are providing some solid resistance above. I think we have to see a close above those highs before we can really get excited. With continued US$ weakness, I think we may be able to breakout but we'll have to wait to see if that happens. So don't load up on gold just yet, but having some gold exposure is a good idea to hedge your long portfolio with any market weakness.
VEN.TO broke out today with good volume and this is another gold play. This stock had a really nice run back in early June and has since traded between $4.50-$5. Today it had a short term breakout and the 20 and 50 day MA right below should provide some good support.
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