Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Monday, April 29, 2013
Gold: A 50 Percent Retracement Is Not Unusual
"If it gets to $1,200, I hope that I’m smart enough to buy even more. If it gets to $1,100, I hope I’m smart enough to buy even more. Speak to the chartists...the technicians...and look at the retracements, or whatever they call them. A 50 percent retracement is not unusual. A 60 percent retracement is not unusual. You can do the same math that I can. You can figure out what a 40 percent, 50 percent or 60 percent retracement would mean for someone." - in Money Australia