6 replies to this topic

[Mike]

When looking at this chart, note that the oversold area is at the top. The current pattern in both the indicators and price line look a lot like those of June and July of '02 (middle of chart). At that time a huge & fast decline took place right when the MT indicator rose & hit the 75 level, which is near to where it's at now. This coincided with the LT indicator rising to the 20 level, also near where it is now. Bring it on...

GoldHeart charts & commentary

[stockbucks_coffee]

yes, GoldHeart's charts are good m/t indicators. xau/hui/gox are up so far. like to see confirmation of interest rates moving higher, so far they are backing off a bit or pausing. once rates move higher than we're off higher otherwise could be some consolidation first and retest of support below.

[VolPivots]

Mike, Good work! I agree with your assessment.

[hiker]

so, MN & Mike, are you playing gold stocks short or simply waiting to bottom pick for a long entry? I am currently flat mining stocks after an aggressive short entered after the fed announcement.

[blustar]

I'm seeing the same thing you are about the June/July 2002 top and the current one. This should put the XAU down to 70-71 by month's end and NEM at or near 32.50 or so. We are oversold enough to warrant some buying on dips for agressive players just as long as you sell the rallies, IMO.

[hiker]

blu - are you still thinking gold will bottom in late Feb. and that will be the long entry point?

[Mike]

Note that this is not my chart, but is from Gold-eagle.com.
http://www.gold-eagl.../goldheart.html

I've started scaling back in after getting out before the top. I'll build a core in PMPIX (leveraged to XAU 150%) and then the S.A. gold stocks (gfi & hmy so far), and others.

Here's a link to 8 I'm looking at, courtesy of Steve Saville who has filtered the funnies: http://www.investert...GX,NXG,WTZ&mt=2

Once there, click "Histogram, B.Bands, & candles"

Speculative-Investor.com