My Precious: Part II
Last week we noted
that Harmony Gold
(
HGMCY |
Quote |
Chart |
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PowerRating) was trading down into our Fibonacci support zone and to
look for opportunities to go long. Thursday of last week it looks like we may
have found a short-term pivot point as the last two days of trading has this
stock up roughly 1.5 points. It is now facing a critical price resistance decision
from 15.20-16.21. This next dollar will decide whether we make an attempt at
the ultimate objective on this trade which is 19.03, or whether we roll over
and retest our support zone and potentially even go down through it. My stop
at this point is just under the swing low made at 13.55.
Thousands of disappointed
stampeders were still living in Dawson in the summer of 1899. Some were eking
out a living working for established mines; others struggled to make a living
doing odd jobs in Dawson. Their dreams of golden wealth dashed, most were either
too poor or too ashamed to return home. In the spring of 1899, rumors of a great
new gold strike were spreading through town. When the summer steamships arrived,
the rumors were confirmed. Gold had been struck in fabulous quantities near
Cape Nome, Alaska.
That summer, over 8,000 people abandoned Dawson for the new
bonanza. Credit for the new strike belonged to Eric Lindblom, John Brynteson,
and Jafet Lindberg, a trio who became known as the “Three Lucky Swedes,” (despite
the fact that Lindberg was actually Norwegian). The trio had met in the Circle
City mining area of Alaska and decided to hunt for gold along Alaska’s western
coast. Their rich strike along Anvil Creek in the fall of 1898 inspired excitement
among those already in the Alaskan and Yukon territories.
Good night!