12 replies to this topic

[senorBS]

Senor looking for abc rally into 421.50-424 area then another sharp decline towards 405-410 "at least". BS as always. Senor

[SilentOne]

Hi Senor,

Yes, gold could consolidate here, or it could break to new highs in April. Seasonals are against this, but then no one expected the POG to break up and restest the highs (not true, I actually did).

The more important thing to watch is how gold stocks behave from here on. I expect these ratios to break up soon. That would be a buy.

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$hui:$gold,uu[l,a]daclyyay[dd][pb50!b200][vc60][iub14!la12,26,9]&r=6972.gif

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$xau:$gold,uu[l,a]daclyyay[dd][pb50!b200][vc60][iub14!la12,26,9]&r=6972.gif

cheers,

john

[PMILLY]

Hello all, Haven't posted for a while, so I thought I would add my views. I expect the XAU to go down and test the 96 area, although I'm not sure we will break through. If we do, it could have some serious repercussions. I guess 93 would be the next support level after that, but it could possibly be ugly beyond that. I haven't liked the way my daily indicators have looked this entire move up in the past few weeks. I do expect to be a buyer of gold stocks toward the end of this month though. Just some thoughts. Right now I'm looking to short NEM. Pmilly

[skott]

well, for once it seems I am the only one long gold stocks. how odd, I am usually shorting them. .....nothing better to do so I'll predict,,hmmm 10 -20% surge in gold stocks in the next 2 weeks. Is that too general. I have a near stop...risking about 2-4%....... scott

[The_Gold_Miner]

Thanks for the post Skott, you could be on the right side this time but only time will tell. I'm in cash and s/t bearish so I hope your right, I hate to see the market take anyone's cash.

[teki]

Skott, I'm with you on the long side. At trendline resistance on a number of the gold stocks in my basket, but so far for the most part prices have been bouncing right where they should. (especially if you adjust the tl!)

[skott]

I particularly hate to see them take my cash. I am not overconfident on this trade and as always am nervous.... scott

[The_Gold_Miner]

Man, that's normal. I feel like that on every trade I make. Controling it is the trick. heheheh

[stockbucks_coffee]

I would be very cautious and use sell stops. xau/hui rallied last two days, matter of fact they been rallying 8 of last 10 days but are only back where they were at early LAST WEEK. (only down were days were Fri. and Mon.) I sold my gold/silver stocks last Wed./Thur. and I believe tomorrow they are heading down again. good luck trading. SC.

[skott]

thanks, stockbucks. I have noticed that as well, although I use a proprietary system to determine whether gold stocks are up or down on the day, i.e not the xau or hui. any system can be wrong but I think gold stocks will take off quite strongly to the upside within the next week(if they don't crash today). I think alot of people "know" they should be shorting them here and I think a considerable short interest has accumulated. won't take much to cause a cover panic. has anyone come up with a way to determine what the short interest is other than the delayed posting by the exchange?.....funny how they have the edge on these things isn't it? scott