Well here we are at May mining stock lows
#1
Posted 19 February 2013 - 12:28 PM
#2
Posted 19 February 2013 - 12:35 PM
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.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
Posted 19 February 2013 - 12:36 PM
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
#4
Posted 19 February 2013 - 12:43 PM
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
Posted 19 February 2013 - 12:58 PM
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
#6
Posted 19 February 2013 - 01:00 PM
#7
Posted 19 February 2013 - 01:09 PM
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.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#8
Posted 19 February 2013 - 01:09 PM
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
#9
Posted 19 February 2013 - 01:11 PM
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
#10
Posted 19 February 2013 - 02:13 PM
Edited by dharma, 19 February 2013 - 02:13 PM.