Posted by: eminitrader June 8, 2009
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Although GFI showed up on my scan last week, I'm not a big fan of gold stocks. Gold stocks depend a lot on the way the dollar moves and I find it hard to predict currencies and their movements. If the dollar strengthens here we could see gold and oil go down. I wrote about it on my blog few days ago.
950 in SP cash and 960 in futures is going to be major resistance but I think we'll take that soon. I'm still holding SMSI and daytrading futures from the long side only.
Duku,
I like AZO but I think the easy money has been made so I'll stay away from those.