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When I look at the deficit: well over $400 trillion, way more than the economy can sustain, I think gold should be the right way to go. I wonder why harmony's price is not under the messages, as in most of the stocks on S.I. Freeus
freeus, At the $12.58 close I was .01c away from a margin call. I am not following too much news or comments on the boards lately as there is too much emotion out there right now. I will just sit & wait as I still believe HGMCY will be $25 in August & $40 by year end.
Hope so. I had sold puts for harmony for today for $15. 10 of them. Only got $1. Yesterday I bought them back for 50C. That's 100% gain so it's ok. But it's obvious today I didn't have to buy them back at all. Nice. It's nice for me because it gives me confidence in my choices. Next time harmony falls I'll have more guts to buy more of it. I'll bet you are sleeping well again! Freeus
Freeus, Hi. Harmony's wave 4 is locked in...onward and upward from here.
Here's the latest from John Murphy today....
FALLING DOLLAR BAD FOR STOCKS -- BULLISH FOR GOLD... A falling dollar is usually bearish for U.S. stocks. For one thing, it shows lack of confidence in the U.S. economy. It also discourages foreign money from buying U.S. bonds and stocks. Recent numbers show that foreign money is already starting to leave the states. In time, attempts to support the U.S. currency may lead to higher U.S. interest rates, which would also be bad for bonds and stocks. As we've stated several times, the main winner in this scenario is gold and gold stocks. The gold chart looks remarkably similar to the Euro (and a mirror image of the dollar). Gold bullion is also challenging major resistance around $325. A decisive close through that barrier would be a major bullish breakout in gold. The XAU Index is also stalled at a major resistance barrier. The odds for bullion and the XAU breaking through resistance would be greatly increased if and when the dollar crashes through support.