Trade Update: Harmony Gold(HMY)
Posted on September 12th, 2007 in Long Trade |
On 9/7 I missed the trade as it gapped up above my buy order. Spot price of gold hit it’s 16 month high yesterday. I believe we will see some profit taking as the gold miners have gained quite a bit in the last 1-2 weeks.
If you made a trade with HMY I would take profits now as we are running into very heavy resistance from the 8/6 date when the price fell on volume of 9.6MM share versus 3.3MM shares today. When gold retrace so will the miners. HMY will retrace down to $10.07 where we can re-enter.



