24 replies to this topic

[senorBS]

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

[Tor]

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!

[dougie]

http://stockcharts.c...amp;a=194609011

just does not seem like the structure to launch from, BWDIK?

[stubaby]

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

[Ken]

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.

[dougie]

yes i agree: question is, 'Do I feel lucky?' Well, do ya punk?

[johngeorge]

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.

[dharma]

when everyone here starts worrying about missing the trend , instead of the next little correction, then i will know its about time to look somewhere else the trend is your friend gold closing @monthly, weekly, and daily highs dharma

Edited by dharma, 30 April 2010 - 02:09 PM.

[dougie]

slv looking like it is near targets:
http://3.bp.blogspot...I/s1600/slv.png

[senorBS]

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