22 replies to this topic

[teki]

Looks like the XAU was .04 away from a pnf buy signal (needed to get to 102). Let's see what tomarrow brings...

[The_Gold_Miner]

Yep, it's getting interesting. The nice thing about it is that it can go either way when you in cash.

[Regent]

According to Ted Burge, HUI is on a PNF buy signal. XAU is nearing the same although it is struggling presently. Will Greenspan's testimony tomorrow push it over the top??

[stockbucks_coffee]

falling interest rates from past days hinted this rally was a s/t variety. likely we go back down to last week's support levels. either xau/hui fall below there OR they bounce up from either a triple bottom or inv. H&Ss.

[The_Gold_Miner]

Here is more of my BS.

From a short term TA and Elliott Wave perspective things are heating up. I've always made entries that I consider "early" based on my TA so I have been making it a point to get a second or if possible a third opinion from my mentors before making a move. On my chart below I see the XAU moving up against strong resistance from the long term grey channel and the mid term red channel. Stocs are entering overbought territory along with CCI. I will be watching Ryan's EW counts closely as my feeling would be to enter short here (but I'm usually early). Based on the Gold Miner the call would be to stay in cash and if using X-Dev to time the XAU a move to 105 would be the signal. I would consider the stop to be a break and hold above the two channel lines. The bullish case would be a break and hold above the two channels with stops just below.

[hiker]

Gold Miner - thx for the update...

[Shazzam]

Don't forget the gap around 106 xau and 46 nem. Those will most likely get filled before a pullback or new downleg.

[stockbucks_coffee]

sold all my gold stocks yesterday...closed out the rest of my silver stocks today... this xau/hui s/t rally looks tired...could be a short oppurtunity if they fall tomorrow or afterwards.

[Regent]

Egads! I just went long golds. XAU just hit a buy to coroborate HUI's earlier buy signal. Let's see who is right

[stockbucks_coffee]

i have no position so I hope you're right and i'm wrong... but I'm getting alerts from my s/t indicators so i'm going by my short term trade system...it could be early at times... your signals may be lagging...getting confirmations... I got in over a week ago when it was already oversold...it's getting s/t oversold use stop order, in case it starts head south tomorrow...good luck