I agree Silent and my system is very close to giving a new buy signal but there are several bearish pattern that portend lower prices for gold and gold stocks first. Bear flag in gold and H&S top in Nem and others.... If I get the buy signal I will just have to exit. An up day today will give that signal.
Scott
PM Decline
Started by
SilentOne
, Dec 09 2004 06:52 AM
14 replies to this topic
#12
skott
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Posted 23 December 2004 - 11:15 AM
new lows in the dollar yet barely a budge in gold........well off it's overnite and morning highs. Maybe it is holiday effect of low volume. I'll see how it plays out the rest of the day.
Scott
#13
SilentOne
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Posted 23 December 2004 - 11:37 AM
Hi Scott,
I don't think gold/silver have much downside risk here ST. Watch the relative performance of shares now relative to the metal. I'd say bullish action in the HUI on the open. Sideways action here into early next week and then some kind of rally ensues. I'll look to pick up some PM shares Friday morning and then next week.
http://bigcharts.mar...&mocktick=1.gif
HUI poking its head above the 13 dma.
cheers,
john
I don't think gold/silver have much downside risk here ST. Watch the relative performance of shares now relative to the metal. I'd say bullish action in the HUI on the open. Sideways action here into early next week and then some kind of rally ensues. I'll look to pick up some PM shares Friday morning and then next week.
http://bigcharts.mar...&mocktick=1.gif
HUI poking its head above the 13 dma.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#14
skott
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Posted 23 December 2004 - 01:51 PM
John, I sent you a message..... market is closed friday.
Scott
#15
SemiBizz
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Volume Dynamics Specialist
Posted 28 December 2004 - 10:25 AM
DROOY tests August Swing Low of 1.53... came on 10M shares...
Heavy volume....
Price and Volume Forensics Specialist
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
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
