Rainy Day In August

POG seems to be consolidating just below US$950, I believe this is a good sign as this will establish the base for the run up into four figures.
Trades in LGL and IAU exist.
LGL as I thought entry at $2.80 would hold, stop was in at $2.38 and LGL traded down to $2.41 and has now bounced back and closed at $2.72 yesterday still not a positive trade but my entry was on the interpretation it could go to $3.60 or higher dependent on POG, once it clears $2.80 the next stop is then likely $3.30.
IAU based on a gold stock that is probably undervalued by the market, its respected its 200 day ema throughout this year and was looking oversold, entry made at $0.31 with a stop at 23.5cents. Support at 24cents has held from mid February when it has been tested. My expectation here is 40cents at least.

The Winter Blues

Only in one significant trade and thats LGL again when it fell to support. There are some factors that have caused this stock to fall whilst the POG has been consolidating and they were the failure of the Ballarat mine to provide scale with economy and now its sale at a heavy cost. I must be addicted to this stock as I entered again looking for a 10% to 20% profit this time. I have missed a lot of opportunities in the general market because of I guess an obsession with gold and gold stocks, I still believe however that the price of gold will soar and soar immensely.
The general market I think has almost ran its day, its rally to run out of steam as it follows the way of all bear markets. The rule of recovering 50% of the crash is just about to be realised. There seem to be some calling the bear completed, I feel there may be more down to come before we see another bull market. What we just had was a rally in a bear market nothing more. No amount of spin and financial trickery by the Fed is going to stop the next tsunami, in fact the Fed will be the cause.