Edited by senorBS, 04 March 2013 - 03:43 PM.
What gives? gold or miners?
Started by
senorBS
, Mar 04 2013 03:43 PM
29 replies to this topic
#1
senorBS
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Posted 04 March 2013 - 03:43 PM
sideways gold and silver trading and collapsing mining stocks. The 64peso Q is which one is telling the real story. Is gold and silver about done with their correction and the miner collapse nearing a climax? or are the miners leading the way south with gold and silver to follow muy rapido? weekly miner stuff is as oversold as anytime since mid 90's. something's gotta give amigos. HUI/Gold ratio now lowest since early 2001.
PureBS
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#2
goldfungus
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Posted 04 March 2013 - 03:51 PM
sideways gold and silver trading and collapsing mining stocks. The 64peso Q is which one is telling the real story. Is gold and silver about done with their correction and the miner collapse nearing a climax? or are the miners leading the way south with gold and silver to follow muy rapido? weekly miner stuff is as oversold as anytime since mid 90's. something's gotta give amigos. HUI/Gold ratio now lowest since early 2001.
PureBS
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I've got two black eyes but haven't been knocked out yet. Playing rope-a-dope waiting for the bell to save me. LOL
#3
SemiBizz
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Posted 04 March 2013 - 03:51 PM
See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.
But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....
So with a little delay here and a short rally, gold should break the 1522 and down we go.
Solamente caca de vaca...
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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
#4
RagingSpartan
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Posted 04 March 2013 - 03:55 PM
See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.
But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....
So with a little delay here and a short rally, gold should break the 1522 and down we go.
Solamente caca de vaca...
That's what I'm expecting. Bulls are still in the denial phase. The panic phase should begin soon.
#5
senorBS
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Posted 04 March 2013 - 03:57 PM
See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.
But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....
So with a little delay here and a short rally, gold should break the 1522 and down we go.
Solamente caca de vaca...
interesting take, certainly possible but I think not probable, we see
Senor
#6
tomterrific14
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Posted 04 March 2013 - 03:59 PM
sideways gold and silver trading and collapsing mining stocks. The 64peso Q is which one is telling the real story. Is gold and silver about done with their correction and the miner collapse nearing a climax? or are the miners leading the way south with gold and silver to follow muy rapido? weekly miner stuff is as oversold as anytime since mid 90's. something's gotta give amigos. HUI/Gold ratio now lowest since early 2001.
PureBS
Senor
If the relative weakness is any indication of pessimism on Gold's direction, it is often the case that the extremes of pessimism are reached...after Gold has made a low......which is now the case, as various measures of sentiment are worse now than at the 1523 and 1554 Gold lows....small spec short selling, $BPGDM, and public opinion on Gold..., now 40%, lower than previous lows. ( Historical low in 1999 was 9%).....many gold stocks are below the lower BB's now....
Would like to see a 15 or 20 dollar decline in Gold and the GDX hardly declines, or is up..to signal a reversal ...or a hammer , candlestick
#7
tomterrific14
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Posted 04 March 2013 - 04:01 PM
sideways gold and silver trading and collapsing mining stocks. The 64peso Q is which one is telling the real story. Is gold and silver about done with their correction and the miner collapse nearing a climax? or are the miners leading the way south with gold and silver to follow muy rapido? weekly miner stuff is as oversold as anytime since mid 90's. something's gotta give amigos. HUI/Gold ratio now lowest since early 2001.
PureBS
Senor
If the relative weakness is any indication of pessimism on Gold's direction, it is often the case that the extremes of pessimism are reached...after Gold has made a low......which is now the case, as various measures of sentiment are worse now than at the 1523 and 1554 Gold lows....small spec short selling, $BPGDM, and public opinion on Gold..., now 40%, lower than previous lows. ( Historical low in 1999 was 9%).....many gold stocks are below the lower BB's now....
Would like to see a 15 or 20 dollar decline in Gold and the GDX hardly declines, or is up..to signal a reversal ...or a hammer , candlestick
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#8
senorBS
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Posted 04 March 2013 - 04:02 PM
See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.
But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....
So with a little delay here and a short rally, gold should break the 1522 and down we go.
Solamente caca de vaca...
That's what I'm expecting. Bulls are still in the denial phase. The panic phase should begin soon.
so you don't think that the most extreme weekly technical readings since the mid 90's in many cases already represents a panic phase? "technically"
speaking this is worse then the 2008 bottom in the miners, can it get worse? si it can but in the grande scheme of things it's 10-15 yr muy malo time right now
Senor
#9
RagingSpartan
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Posted 04 March 2013 - 04:06 PM
See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.
But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....
So with a little delay here and a short rally, gold should break the 1522 and down we go.
Solamente caca de vaca...
That's what I'm expecting. Bulls are still in the denial phase. The panic phase should begin soon.
so you don't think that the most extreme weekly technical readings since the mid 90's in many cases already represents a panic phase? "technically"
speaking this is worse then the 2008 bottom in the miners, can it get worse? si it can but in the grande scheme of things it's 10-15 yr muy malo time right now
Senor
senor. i should have been more specific. i meant to say the panic phase for gold.
#10
stubaby
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Posted 04 March 2013 - 04:13 PM
sideways gold and silver trading and collapsing mining stocks. The 64peso Q is which one is telling the real story. Is gold and silver about done with their correction and the miner collapse nearing a climax? or are the miners leading the way south with gold and silver to follow muy rapido? weekly miner stuff is as oversold as anytime since mid 90's. something's gotta give amigos. HUI/Gold ratio now lowest since early 2001.
PureBS
Senor
If the relative weakness is any indication of pessimism on Gold's direction, it is often the case that the extremes of pessimism are reached...after Gold has made a low......which is now the case, as various measures of sentiment are worse now than at the 1523 and 1554 Gold lows....small spec short selling, $BPGDM, and public opinion on Gold..., now 40%, lower than previous lows. ( Historical low in 1999 was 9%).....many gold stocks are below the lower BB's now....
Would like to see a 15 or 20 dollar decline in Gold and the GDX hardly declines, or is up..to signal a reversal ...or a hammer , candlestick
Yep - "Been Waitn'" for just such divergence - sure is wedging lower and lower! If we do see a turn there are an abundance of trend lines above and it will be a "long hard climb" for sure.
stubaby
