wow! gold up 16 and silver up.6 and
#1
Posted 11 May 2006 - 01:07 PM
#2
Posted 11 May 2006 - 02:03 PM
#3
Posted 11 May 2006 - 04:26 PM
#4
Posted 12 May 2006 - 01:09 AM
#5
Posted 12 May 2006 - 07:30 AM
#6
Posted 12 May 2006 - 11:10 AM
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
#7
Posted 12 May 2006 - 11:46 AM
#8
Posted 12 May 2006 - 11:56 AM
#9
Posted 12 May 2006 - 01:24 PM
#10
Posted 12 May 2006 - 03:06 PM
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