Monday, November 22, 2010

Dr. Clive Roffey on Gold One International (GDO)

A Hot Copper poster recently linked to this article dating back to 1980 which indicates not only did Dr. Clive Roffey predict the rise of Gold to $800+, but also accurately called the top and wasn't far off with where Gold eventually settled as well.

It  has come to my attention that Dr. Roffey (some 30 years after the above prediction) is regularly commenting on the market, Gold and Gold shares in a show called "The Roffey Review". A show well worth watching if you appreciate technical analysis, although he predominantly comments on stocks listed on the Johannesburg Stock Exchange.

On November 1st Dr Roffey mentions Gold One as a potential 5 bagger  as it's preparing to break out of a multi-year consolidation pattern (on the JSE, only listed on the ASX in early 2009), he provides an update on November 8th explaining that it has broken out and he has a short term target of 450 (currently at 250). 450 is approximately AUD 66c (current GDO share price on the ASX is 36c), we'd need an 80% increase in the share price of GDO to reach this short term target or to meet the 5 bagger target the share price would have to rise to $1.46.

I will cover Gold One International in a more detailed post at a later stage, but suffice to say I think this Gold stock is being overlooked by many. In my opinion it represents excellent value at the current share price.

For the Gold One references check the videos on the following dates and times:

Nov 1: 4.40 to 5.05
Nov 8: 3.40 to 4.05


Dr Roffey continues to like Gold at these prices as mentioned in his latest clip on November 15th.

A detailed list of Dr Roffey's predictions can be found on here are those relating to Gold:
June 1979 when gold was trading around $300 he forecast in a major article in the Rand Daily Mail that it would hit $800 around the end of the year. It peaked at $850 on January 16th 1980.

November 1979 again reiterated the $800 target in the Rand Daily Mail, and in the same article. It peaked at $850 on January 16th 1980. 

November 1979 also forecast that after the $850 peak it would fall rapidly to at least $400. By June 1982 gold had fallen to $285.

January 1980 he publicly won a Kruger Rand from another highly respected analyst who insisted that bullion was on its way to $1000. Gold peaked at $850 on January 16th 1980.

July 1999 In Smart Investor, when gold hit $252, called this as the 1980 bear market low for bullion when most other analysts were calling for $200 and less. The gold price bottomed at $252 and has remained above that level ever since.

July 1999 in the same article called for a bullion rise to $325 by the end of the year. A completely opposite view to the prevailing sentiment. Bullion hit $334 in the September.

Of course this is just one man's opinion and I'm sure he has made incorrect calls as well as those he boasts above, but you can't help but sit up and take notice given his accuracy in the last Gold bull market.


Disclosure: Position held in GDO & GOLD. Not investment advice. Do your own research.

1 comment:

  1. hi

    do you feel that it would wise to sell supergroup shares to buy bullion rather