XAU, HUI and many of the miners seem to be overlapping the rise from yesterday and the day before leaving just 3 waves up. Maybe that was it for the big wave 4, or just A of the big wave 4, but it looks dangerous again....
Hourly Gold stocks not looking as rosy
Started by
teki
, Apr 23 2004 10:30 AM
5 replies to this topic
#2
stockbucks_coffee
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Posted 23 April 2004 - 11:05 AM
Teki, looks like a basing process. bottoms can take time to develop.
#3
teki
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Posted 23 April 2004 - 11:11 AM
SC, and with each probe down the divergences become more pronounced. And of course, just after I posted the above, hui reversed a bit. It seems like its all about the interest rates, and they move so do gold and stocks.
I just want to make sure I disciplined with my exit criteria, nothing wrong with getting back in at a lower price. But as you say its a "process", and its in progress.
#4
stockbucks_coffee
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Posted 23 April 2004 - 11:17 AM
yeah, it's more nailbiting for day trading than s/t trading. i do see the jr. miners holding up better.
#5
The_Gold_Miner
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Posted 23 April 2004 - 03:41 PM
Yep, looks like more downside in the coming sessions. Longer term partial small buys still look good to me. I'm nibbling ever so lightly.
#6
hiker
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Posted 23 April 2004 - 03:47 PM
Gold Miner - many thanks for the updates. Helpful, as always.
