I added a new forecast onto the old commentary of GG
from this past fall when I pointed out that GG
is a trading stock and not a stock to buy and hold. So far the recent selloff has started the snowball rolling down the mountain from my perspective. I could see a slow, grinding decline through until summer. The "point of maximum optimism" is a price pattern that creates a lot of new highs in the shorter term, but as you can see, failed to make an all-time new high. So, what this pattern does is set-up the bulls to just hold onto their shares as the price slowly declines. I will look to enter shorts up another dollar and risk 3 times the average daily range. Cheers. Technical Tim, Mon, Mar 5, 2012 3:14PM EST $47.74 last.