6 replies to this topic

[dougie]

Everyone is either bored to tears of gold, gave up, or just not finding this board useful.... action this week is IMo the best in months

[stockbucks_coffee]

I think it's the general market's dull moment is affecting on us gold bugs. yesterday did get some gold posts going. actually you're right, gold/silver stocks are always moving...one of the most volatile sector. i'm still long on my gold stocks, will have to see later what the indicators say...hold or sell them.

[SilentOne]

Hi, I'm long a basket of miners for a trade position only. A lot of stocks on my screen hit new lows this week. Look at the S.A. stocks. So in fact we have not gone anywhere save and except for some of the stronger stocks. Monday will confirm a spurt higher. Beyond the end of June I question what can really happen in this space. I was very surprised to see gold finally catch a bid this week. It really looked like it was going to roll over. cheers, john

[The_Gold_Miner]

My speculation is that we see new lows in the near future:

Prospector Indicator ticked down and a possible new channel in the works. Also, the Mountain Range is closer to overbought than oversold territory telling me that it's getting too late to enter long positions. Are we looking at a large bear flag???



Get the rest of the charts here.

[anjing bau]

Keep an eye on NEM ... a move over 40.51 on volume negates the downtrend and establishes a new IT uptrend. AU is also a good barometer. Sidebar..... PDG has been acting very well. there are a host of setups I am seeing in the basket of advanced stage exploration plays and mid tier stocks that I follow. Yes the invetor sentiment over done to the downside. Every waver and his sister can only see downside counts... John Lansing etc etc etc

[anjing bau]

My speculation is that we see new lows in the near future:

Prospector Indicator ticked down and a possible new channel in the works. Also, the Mountain Range is closer to overbought than oversold territory telling me that it's getting too late to enter long positions. Are we looking at a large bear flag???



Get the rest of the charts here.

Yes it is either a bear flag... or it is beginning of a bottoming formation IMO... higher lows.... take out 93 and we are up....

[SilentOne]

Hi GM et al,

My guru is looking for an important turn date into July 2 timeframe. Up or down for PMs? I note that the USD index looks more amd more likely to take out its downtrend line any day (to the upside that is).

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$usd,uu[h,a]daclyyay[df][pb50!b200!f][vc60][iub14!la12,26,9]&r=7057.gif

Drop a ruler and watch the line.

As for the biggies, I like these charts from Steve Swink on NEM and AU. We have to bounce or drop out of what could be the price channel. In fact these charts are very clear IMO. The new lows on the MACD do not give me the warm fuzzies for gold shares.

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=NEM,uu[p,a]whclyyay[df][pb50!b200][vc60][iuv25!uk14!ua5,34,5!up14,3,3!lj[$hui]!lf][J31118907,Y].gif

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=AU,uu[p,a]whclyyay[df][pb50!b200][vc60][iuv25!uk14!ua5,34,5!up14,3,3!lj[$hui]!lf][J21771014,Y].gif

If you are bullish, then this would be a really good time for these to bounce. I was expecting a significant bounce in June which never materialized. If we are approaching another top, then the first leg (3 years) of this gold bull definitely concluded in Dec/Jan.

cheers,

john