Market Scheming

Thursday, July 14, 2011

Predicted top in GPR off by 1 cent, as gold and silver stall on Mr Ben squashing QE3 hopes

The price objective was hit on Great Panther Resources where my sell order was filled @ 3.90

Once 3.90-3.91 was touched twice, a correct ensued along with most other silver / gold mining companies on the TSX.  This doesn't mean the rally is over but prices have got a head of themselves.


As you can see from the daily chart the price is overextended as it is well above the top bollinger bands.  This doesn't mean that prices can't continue higher but the probability of this is low.  Hence my exit.



No comments:

Post a Comment