Venture bottoming approaching?
posted on
Aug 11, 2008 05:32AM
Seems to me we should see some resistance from the ongoing thrashing the venture has taken in its recent bear slide.
From the high of nearly 3400 we are approaching a low not hit since late 2005 around 2000. This would be around a 40% fall in the venture. If that point is breached, we may well hit a further low of between 1500 and 1600. I would find it hard to believe it will go lower unless of course there is a complete market crash ... not inconceivable, but we will have less to fall then all of the over valued manipulated stocks and the ones sure to go down in the financial sector. At what point the flight to the safety of gold will then start driving back up many of the venture stocks is anybody's guess, but make no mistake it will happen if the overall stability of the markets are as dire as some predict. Our biggest risk will become the expropriation of physical gold and the potential nationalization of gold mining companies in the "National Interest" or interest of the Illuminati.
Orgy