9 replies to this topic

[mss]

Until something "gives" in the trend lines we have down side risk for several weeks.

[hiker]

thanks mss....I am waiting to enter gold miners. Do you think this is a mistake in the case of BGO and DROOY?

[mss]

hiker, I have a small position in Drooy (5000sh) that I have had a loooonngg time but am not adding. Someday it will be a $8-12 stock. BGO - I trade this one, am long at the moment, but may go short today. P=$3.40, S2=$3.01, R2=$3.79 these are weekly #. Best, mss

[hiker]

thanks, mss.

[Rock]

Watch the dollar. It looks ripe for a run to 92+. That would hit PM stocks pretty hard. I'm flat. Got shook out on Fri. So if Mel Gibson was voted the sexiest man alive, won Academy Awards and is worth 100s of Mil.$ then got depressed and wanted to kill himself why do I want to make big Money?

[mss]

why do I want to make big Money?

to see if it will make you depressed??

[hiker]

mss, your 2/25 post saying "we have downside risk for several weeks" proved to be a timely advance warning. Good job and very helpful. I flipped AEM from long to short on Monday and went short 6 other gold stocks. Will hold until the first recovery bounce of any magnitude, and possibly look to reenter short higher if the conditions continue to look profitable for gold shorts.

[mss]

hiker, the dollar may test 88+ and cause a very short bounce in gold, but IMHO a close in spot gold below will signal a slide to 377+/-, a grinding slide. mss

[mss]

hiker,
the dollar may test 88+ and cause a very short bounce in gold, but IMHO a close in spot gold below 393 will signal a slide to 377+/-, a grinding slide.
mss

should read below 393 will signal agrinding slide to 377+/-

[hiker]

thanks, mss...am keeping a reasonably firm hand on those shorts...