20 replies to this topic

[senorBS]

HUI just traded below May bottom, GDXJ been below for a week, XAU and GDX muy close, do we end this grande drop soon or keep dropping muy south of this border? Me don't know Senor

[SemiBizz]

Today's XAU Forecast:

XAU finally broke the 147 support level on Friday's BLOWOUT VOLUME. This was the strongest daily volume of the year and the XAU was clobbered down to a low of 143.51, closing at 143.90, and that's under the 144 support. Now we do think the XAU will likely see a bounce here at some point, but it could continue right into 140-41 on this strong downside momentum. Short term now we think any bounce will have trouble over 148-149 where it had trouble breaking 147 to the downside... We'll see what Monday brings here, the chart is ugly.

141.00 last intraday low, gold contract closes in about an hour.

[senorBS]

Today's XAU Forecast:

XAU finally broke the 147 support level on Friday's BLOWOUT VOLUME. This was the strongest daily volume of the year and the XAU was clobbered down to a low of 143.51, closing at 143.90, and that's under the 144 support. Now we do think the XAU will likely see a bounce here at some point, but it could continue right into 140-41 on this strong downside momentum. Short term now we think any bounce will have trouble over 148-149 where it had trouble breaking 147 to the downside... We'll see what Monday brings here, the chart is ugly.

141.00 last intraday low, gold contract closes in about an hour.

muy malo so far

[SemiBizz]

Yes it is muy malo. And I know what is under here... I'll give you a sample If this XAU breaks down now, you gonna see NEM at $34.

[senorBS]

Yes it is muy malo.

And I know what is under here...

I'll give you a sample

If this XAU breaks down now, you gonna see NEM at $34.

but a bueno reversal norte from these muy oversold levels could imply a grande bottom, so both sides need to be careful here IMO

Senor

[dougie]

pure ugliness; time ot be averaging in save poweder for much lower though

[SemiBizz]

Yes it is muy malo.

And I know what is under here...

I'll give you a sample

If this XAU breaks down now, you gonna see NEM at $34.

but a bueno reversal norte from these muy oversold levels could imply a grande bottom, so both sides need to be careful here IMO

Senor

I don't see any grande here, I see a trade up to 148-149.

Works for me.

[senorBS]

pure ugliness; time ot be averaging in
save poweder for much lower though

I don't average in these miners anymore, the % swings for me are way too grande to sit thru, I think today may be a key reversal day, bought a little NUGT, el tighto el stoppos.

Senor

[senorBS]

Yes it is muy malo.

And I know what is under here...

I'll give you a sample

If this XAU breaks down now, you gonna see NEM at $34.

but a bueno reversal norte from these muy oversold levels could imply a grande bottom, so both sides need to be careful here IMO

Senor

I don't see any grande here, I see a trade up to 148-149.

Works for me.

I can see the POTENTIAL for one, that is all, that is why I took a trading position but will exit muy rapido if it does not do what I need it to

Senor

[dharma]

buy @the point of maximum pessimism- sir john templeton. dharma a reminder from a friend i happen to agree w/dougie

Edited by dharma, 19 February 2013 - 02:13 PM.