35 replies to this topic

[senorBS]

FWIW looking to me like another accumulation period at hand as Gold vs USD doing well relatively speaking. Could be ending correction of Feb to March upmove. Am accumulating the rest of this week and next - Hui could go as low as 390ish and XAU 155ish.

stubaby

HUI is less than 3 points from "390ish" that's a small down opening! That's all the downside risk you see?

Senor

[stubaby]

FWIW looking to me like another accumulation period at hand as Gold vs USD doing well relatively speaking. Could be ending correction of Feb to March upmove. Am accumulating the rest of this week and next - Hui could go as low as 390ish and XAU 155ish.

stubaby

HUI is less than 3 points from "390ish" that's a small down opening! That's all the downside risk you see?

Senor

Senor

No - risk "could" be much greater - that area is only the next logical bottoming zone - IF a bottom is to form here - my guess is we see an intra-day undercut, but a close above those levels and a reasonable bounce sequence could then become apparent just ahead. Does the "bounce" materialize - Don't know, but odds are it does - so I make some adds to core positions during weakness. Does the "bounce" if it happens lead to more upside - again - don't know - based on the USD and the broad eqities market today - I think we could be in for an advance into May/June timeframe, as USD due for a reasonable correction when current wave up is complete.


stubaby

[JGUITARSLIM]

Simple chart...150 DMA held throughout last year.
Notice RSI at level where previous rallies have occured.

Edited by JGUITARSLIM, 25 March 2010 - 09:26 PM.

[senorBS]

took a GDXJ trading position, fairly tight stop on this long. BSing away Senor

[dharma]

the nice thing about bull markets is even poor buys are made into good buys over time! gold getting some giddyap! filled on my orders this am. over the next 2weeks looking for a firm bottom and some appreciation dharma

[dougie]

still no adds on this end: more down to come? gdx:gld ratio a sell, no positive divergences and broads have more down, but only till early next week?

[senorBS]

still no adds on this end: more down to come?
gdx:gld ratio a sell, no positive divergences and broads have more down, but only till early next week?

LOL who knows, weakening rally had me exit.

BSing away

Senor

[johngeorge]

still no adds on this end: more down to come?
gdx:gld ratio a sell, no positive divergences and broads have more down, but only till early next week?

That's a me too, dougie. Been sitting on the sidelines, waiting......

[dougie]

looking more promising here; whites of their eyes

[dharma]

looking more promising here; whites of their eyes

my boat is full
did some heavy lifting today.
monday starts a window for 2 weeks
dharma