18 replies to this topic

[Tor]

Doesn't look that good to me - check out the biggies - NEM and GG. Dragging to my eyes, even after being oversold.

GG closed up 3.5% today -- I would not call that a "drag."

GG will get back to 25-26 on this bounce IMO.

Personally i would rather see more spring, rather than go fishing at these levels after it fell some 30% over the past 2 weeks. Maybe more testing needed and more divergence. Will see of course.

[beta]

... I just think it's funny that ten days ago, no one believed that GG would get back to 24 (as I posted on this forum) and now many are afraid to buy at these levels. Thurs/Friday saw strong buying volume come in near the close, and that's the key for me.

[Tor]

... I just think it's funny that ten days ago, no one believed that GG would get back to 24 (as I posted on this forum) and now many are afraid to buy at these levels.

Thurs/Friday saw strong buying volume come in near the close, and that's the key for me.

That is true beta. Thanks for posting. i have been a good fade recently

[dougie]

Silent: are you fading your read on the Bradley then?

[beta]

... I just think it's funny that ten days ago, no one believed that GG would get back to 24 (as I posted on this forum) and now many are afraid to buy at these levels.

Thurs/Friday saw strong buying volume come in near the close, and that's the key for me.

That is true beta. Thanks for posting. i have been a good fade recently

... Tor, I do agree w/ your larger sector assessment, i.e., we are likely seeing a bounce here and most likely a second leg down will follow. May take the form of a truncated "C" as with the May decline, or a simple retest of last week's lows.

Still waiting for GLD 54-55 and SLV 95 to really load up. Also agree that following a bounce to 25-26, GG will likely close that long-standing gap @ 22. Putz are not a bad way to play the swings here IMO.

Edited by beta, 18 September 2006 - 06:14 PM.

[swanstkdh]

Wall of worry anyone?????

[beta]

Wall of worry anyone?????

Given the steep trendlines, incessant fakeouts and wide swings of miners, a Great Wall of Worry is well-warranted.

Keeps out the barbarians.

Edited by beta, 18 September 2006 - 06:20 PM.

[SilentOne]

dougie,

Silent: are you fading your read on the Bradley then?

I'm sitting tight as I think a better buy opportunity is coming. We'll see.

cheers,

john

[dharma]

w/the eclipse this week right before the 1st day of autumn, we might finish this down wave this week. dharma