Observing muy closely
#1
Posted 29 April 2010 - 10:20 AM
#2
Posted 29 April 2010 - 11:07 AM
dos day's in a row that XAU has reversed lower from new highs, a close below yesterday's close is a warning in Senor's opinion, if not norte we go.
PURE BS
Senor
Makes sense:
http://www.traders-t...howtopic=118668
Lets see!
The future is 90% present and 10% vision.
#3
Posted 29 April 2010 - 11:40 AM
#4
Posted 29 April 2010 - 01:45 PM
http://stockcharts.c...amp;a=194609011
just does not seem like the structure to launch from, BWDIK?
Dougie:
Nice Chart! Again took liberty to extend range back to Dec 09 highs - changed to daily so I could add in price of Gold.
Conclusions - much more "bullish" look - Gold price will be ultimate driver of GDX price - GDX/GLD Ratio breakout is bullish (note recent earnings in majors) - pullback into 47.32-49.11 Range would be normal (I see only slightly below 49 here FWIW)
I will be adding to relative strength leaders on any pullback.
stubaby
Note: If GLD/SLV ratio breaks trendline - that will be "short-term" liftoff point
#5
Posted 30 April 2010 - 09:11 AM
#6
Posted 30 April 2010 - 01:00 PM
#7
Posted 30 April 2010 - 01:00 PM
Long term and intermediate term I'm bullish on gold and pm equities but am I the only one who is expecting a short term pullback any day now in the mining stocks? I'm only talking about a pullback for a few days but it does seem to me the pm equities are overbought on a short-term basis and are in need of a slight breather soon.
In addition, we're in the 5th week of a major cycle (5 to 7 weeks) so it would seem to me the pm equities would peak right about here and then begin a small decline before moving up again in the next major cycle.
Ken
I got a short term sell signal for PM equities on my hourly chart early April 27th and it remains on a sell at this time. Took a small profit.
johngeorge
#8
Posted 30 April 2010 - 02:01 PM
Edited by dharma, 30 April 2010 - 02:09 PM.
#9
Posted 30 April 2010 - 02:04 PM
#10
Posted 30 April 2010 - 07:56 PM
http://stockcharts.c...amp;a=194609011
just does not seem like the structure to launch from, BWDIK?
we agree, I am not bearish, just muy cautious, Monday is THE day for me in gold, I think we know after Monday's close where it's going for next $100 or more.
BSing away
Senor