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POG CHART. Gold looks like its on the Rise. (POG)     

goldfinger - 06 Aug 2004 16:15


cheers GF.


cynic - 31 Jan 2007 08:40 - 31 of 2071

good to see that break through 50 dma has not only been mainmtained, but some increased upwards momentum ...... next obvious pause is likley to be when 200 dma hit currently at 1200, but if through that, then perhaps up to 1300

cynic - 01 Feb 2007 12:49 - 32 of 2071

i feel like the prophet in his own land

cynic - 02 Feb 2007 18:21 - 33 of 2071

have taken my money off the table at lesat for the moment .... sp seemed to be stalling and had a good profit; gold has gone into reverse for some unknown reason ..... am sure i shall be back in in due course

cynic - 21 Feb 2007 09:25 - 34 of 2071

i regard POG as a really good share to trade as an alternative to straight bullion ..... as mentioned elsewhere, this is a really good quality producer etc etc, but sp is very volatile, so great for trading, always assuming you get the call right!

with that in mind, i post below a 3 month chart as it is easier to read than the longer term one above


red = 25 dma
green = 50 dma
black = 200 dma

Strawbs - 22 Feb 2007 14:04 - 35 of 2071

Did you get back in to this one Cynic?

Nice rise today! :-)

Anyone know why, or it is just uncertanty putting Gold back in favour?


cynic - 22 Feb 2007 14:22 - 36 of 2071

afraid i sold mine day before yesterday at 1180 when gold was looking weak (only 50p profit per share; hey ho!) ..... shall assuredly get back in for, as i said before, it's an A1 stock for trading

Strawbs - 22 Feb 2007 14:39 - 37 of 2071

Hoping for a bit more myself. :-) I'm always overly optomistic.....but my target price is around 1600..... Might have to wait until results day though before reaching that level......if at all!

In my opinion. Do your own research......


cynic - 22 Feb 2007 14:46 - 38 of 2071

POG swings around so violently that you pays your money and takes your choice ..... fundamentally, i think its an ace company, for unless i am much mistaken, it is the lowest cost gold producer in the world ..... as a trading stock, that is not entirely relevant, so i shall pick my moment to get back in (and no doubt get it all wrong!)

Strawbs - 22 Feb 2007 14:52 - 39 of 2071

If I had access to leverage or pots of cash I'd probably do the same......sadly I have to sit and wait....and hope....lots of hope.... :-)


cynic - 22 Feb 2007 15:11 - 40 of 2071

can you not run a CFD a/c?

Strawbs - 22 Feb 2007 15:21 - 41 of 2071

Scares me too much..... Don't mind losing what I've got, but don't like the idea of losing what I haven't. If that makes sense....

cynic - 22 Feb 2007 15:38 - 42 of 2071

you talked about leverage, but yes you are right .... CFDs can be a bit (dead!) scary; forgotten what spread bets are like but that might be worth looking at ..... ask IG ... can give you a contact if you need

Strawbs - 22 Feb 2007 15:49 - 43 of 2071

No. It's OK. I looked into both of them. I even played on a few simulators. Made my mind up that it probably wasn't for me, especially after I lost about 4K of "pretend" money in one day. It could've been boredom at work, but alarming how quickly it disappears if you get the trades wrong. I suppose I wouldn't be as reckless with real money, but I figure best not take the chance. Buying shares and holding them isn't as profitable (because of the leverage), but at least I don't have to watch them all day, and as long as the trend line continues, I can normally leave with a profit.


cynic - 22 Feb 2007 15:54 - 44 of 2071

as you may have noticed, i generally can and do watch throughout the day, though it is certainly not my livelihood (would need to have rather more expertise!) ..... i also get some pretty good guidance from time to time from my pals at IG

Strawbs - 22 Feb 2007 16:12 - 45 of 2071

I can only spend about 1 day in 5 watching the markets. I get the feeling trading is a full time job instead of a part time one. :-)


cynic - 22 Feb 2007 16:15 - 46 of 2071

my clients and work are nearly all IT and e-mail based, so easy (especially as i am a partner!)

cynic - 23 Feb 2007 10:41 - 47 of 2071

Strawbs .... look at chart on post 31 ..... reckon you should think about taking profits at 13.00 where there looks a fair amount of resistance, or at least put nin a tight stop-loss

Strawbs - 23 Feb 2007 11:00 - 48 of 2071

Maybe. I'm reading it as a breakout from a triangle formation (top 27/11 @ 1219, base 12/12 @ 823) giving around a 400 point move from the break point (25/1 @ 1051 ish). A move to around 1450 should be on the cards, at which point I'll consider selling depending on the current market conditions/prospects. If good I'll continue holding upto 1600. I'm expecting congestion around 1300, but since this moves in such large ranges I think I'd rather stay in than try timing a sell/buy. The stamp/commission on 2 trades would wipe out too much profit. I'm running a 10% trailing stop, which still gets me out with a profit, but needs a pretty big 120+ point swing to trigger.

Do your own research, in my opinion.....etc. etc.


cynic - 23 Feb 2007 11:11 - 49 of 2071

one advantage of CFDs is no stamp and very modest commissions

Strawbs - 23 Feb 2007 11:26 - 50 of 2071

Yeah. I can see why that would make it a better trading tool. I'd probably drop out at 1300 on that basis too, but holding in shares doesn't really allow me that luxury. I'll just have a few weeks of wondering if my chart reading is correct or not. :-) I suppose having no leverage makes me more comfortable about taking a "wait and see" approach, rather than worrying about losing any big profits. Maybe that's why I didn't do very well on the spreadbet/cfd simulators. Reacting too quickly to the swings, rather than taking my usual "wait and see" approach.

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