24 replies to this topic

[dharma]

the forum is a graveyard! what does that tell you. ?! thoughts anyone. or am i here alone. reminds me of an old dylan song dreamin about ww3. didnt see you around!!! dharma

[dougie]

wall of disbeleif?

[cgnx]

Almost every miner is down too. Not very enthusiastic. Hard to get juiced with that result.

[beta]

Amazing how everyone laments being left behind at the station, then when the train pulls back, most are too afraid to hop on. LOL Looking for a quick further drop to XAU 158-163, then a reversal to new highs by next week. Think gold stalls here, while HUI/XAU play catch up for a few days. Bot back 1/2 TGB, may get another quick drop to 3.20's. Added to RGLD, KBX, GSS, MNG, and will add on further early weakness Friday am (3-5% lower). This run is not done -- yet.

[rono]

Howdy all, Yeah, the divergence between bullion and the miners is huge and potentially troubling. However, with the equity markets all down a gob yesterday, the mining stocks would naturally be lower too - in spite of the huge gains on the spot market. The good news is that all the other pm's are along for the ride - platinum, palladium and copper and aluminum both at all time highs. We'll either see the miners confirm these gains today or early next week, out we'll probably have some sort of correction. Either way the bull is alive and well - and this is just noise. I'm about 30% long pm's. best, rono

[beta]

Looking for a quick further drop to XAU 158-163, then a reversal to new highs by next week.
Think gold stalls here, while HUI/XAU play catch up for a few days.

Bot back 1/2 TGB, may get another quick drop to 3.20's. Added to RGLD, KBX, GSS, MNG, and will add on further early weakness Friday am (3-5% lower).

This run is not done -- yet.

XAU LOD 157.8 so far -- not bad. Note how it stopped right at the bottom of the rising daily channel. If this holds, I think we're in business.

Bot more TGB in 3.20's right on schedule. Bot EZM @ 3.75.

"Buy on weakness, sell on strength" -- who said that ? LOL

[sluzbenik1]

See my cycles post guys...Only have smaller projections so far, we shall see for the longer ones in the next couple of days. Wouldn't be buying gold till late June.

[SilentOne]

Hi S! Today looks like a major reversal and top for the miners. If gold puts in an outside reversal today, that will about seal it. No point in playing with this topping market now. I have been sliding out of positions all day today. Let go of some nice profits today based on last week's buys. Oh well, there will be another chance in the summer as you say. cheers, john

[beta]

SilentOne wrote: Today looks like a major reversal and top for the miners. ____________ What makes you think that, technically speaking? All I see so far is a pullback to support at prior highs on XAU/HUI. Alot of miners backfilling gaps and pulling back to their base prior to last week's torrid run-up. What has changed ??

[SilentOne]

Hi beta,

I was expecting the volatility to increase with a top later in the month. Now I think it could already be in as gold needs to rest. Have gander at this chart and look at the size of today's candle relative to the last year. It may not be the top, but do you want to hold through what is surely going to be a wild ride from here? Count me out. I will sell on any strength remaining positions. The summer will be a better time to get long this sector once more.

http://bigcharts.mar...&mocktick=1.gif

cheers,

john