I departed the country on 31st July for a winter break in the sun in Thailand.
Much to my surprise I found the internet available on virtually every street I could not resist what I thought were some opportunities and managed a few successful trades in ADU and IAU. Needless to say I am back in the market the rise and consolidation of gold has seen some impressive gains in several stocks.
Over the past week and today I have been trading IAU and ALK with continuous winning trades. IAU has had some good volume and has broken out of a channel that started to trend up from March when it was at 23cents to close today at $1.02, also recently hitting $1.06. The past week has seen some good pullbacks in price during the day allowing many re-entries. I have been trading it in 30,000 blocks picking up between 2 and 4 cents on each trade.
Today I exited both IAU and ALK with my re-entry bids left stranded as both stocks jumped in the afternoon.
I recently took a holding in PSP believing this could be another substantial Indonesian gold play, this will be a medium/long term hold as I see a possibility of it going possibly to $2.00.
Tomorrow is another day with gold currently looking fractionally weaker at US$1242 presently. ALD is now on my watchlist with some possibilities of some good trades.
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