I will make everything easy and short here:
after hk fell 500 on monday, in tuesday’s may 23’s trading, HSI was down and ended up, as of today Wednesday HSI was down near 200 point and in closing it was up a bit, near flat, this is a stop sell signal I beleive. It’s a double bottom, next week HSI is est to go up, I think in a range of 16000-16200. Also some analysis say gold run is over, but to me, I don’t really beleive, 2899’s big fall on monday seems attractive to me, I brought it at 3.75, I think by year end it could be in the low range of 5hkd to a high range of 7 hkd. Mainly of a few factors, US currency should go down in months ahead. Also, in the summer months to come is US and Mexico’ hurricane season. It may require to shut off some oil fields. Up in cost of oil = up in cost of gold, b/c of inflationary pressure. Also, in Sept is India’s wedding month, their demand for gold is usually higher. and 2899 is increasing it’s output, so they should earn more. It’s already a 50% increase in the price of gold this year, so the finanical statements for a company like 2899 should be strong compared to last year, even with higher operating cost. B/c the increase of gold price will offset the cost. If you were to buy stocks buy now, next year about this time I would predict a slow down in the gobal economy, only a slowdown not a recession.
May 24, 5:17am
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