17 replies to this topic

[S.I.M.O.N.]

unless gold reverses back above 622 within the next few days, its going back to 560 at a minimum and if we just completed an ABC up from the july low then 500 is very possible. Just positng what i see, on intention of offending any gold bulls.

[dougie]

you are right: not likely but right. If we take ot 596, bar the doors

[mdwllc]

For your support projections, are you using the spot gold price or what contract month?

[S.I.M.O.N.]

For your support projections, are you using the spot gold price or what contract month?

$gold, continuous contract on stockcharts

[Tor]

I agree and i see more weaknes in the goldstocks, but any sell off is gonna set up a verypowerful run in goldin 2007, and we shall see. I see the gold stocks suffering in any weakness, but it should be less than the previos sell off.

[SilentOne]

Tor, I don't see it being that bad here. We are due for a major cycle bottom in the metals anytime, most likely sometime next week. Don't get chased out of LTBH stuff in PMs. That is if you have any such positions. I have accumulated promising looking juniors and held/added to bullion. Will do some more next week. I bet NEM breaks upward sometime next week in a powerful rally. That's a fairly strong "slimjim" in NEM which should be a sign that something is about to radically change this PM market. cheers, john

[anjing bau]

I agree and i see more weaknes in the goldstocks, but any sell off is gonna set up a verypowerful run in goldin 2007, and we shall see.

I see the gold stocks suffering in any weakness, but it should be less than the previos sell off.

Have a closer look at the last hour of trading on Friday.

[anjing bau]

Tor,

I don't see it being that bad here. We are due for a major cycle bottom in the metals anytime, most likely sometime next week. Don't get chased out of LTBH stuff in PMs. That is if you have any such positions.

I have accumulated promising looking juniors and held/added to bullion. Will do some more next week.

I bet NEM breaks upward sometime next week in a powerful rally. That's a fairly strong "slimjim" in NEM which should be a sign that something is about to radically change this PM market.

cheers,

john

If they dont break it up they will break it down. I am time stopped out of NEM...its looking and feeling like a truncated fifth here off the Oct 4 th low.... i would love it to prove me wrong however.

stochs are OB as is RSI and a negative divergence is forming on the MACD as well as a potential MACD cross over sell signal to come on the daily chart in the next day or so.... if not then it has to kiss and go higher IMMEDIATELY.

NEM's volume spike on Friday at the close? Well it was added to the SP/TSX Global Gold Index .... so be a little cautious on reading too much into that last hour volume spike with this chart pattern...

[ed rader]

Tor,

I don't see it being that bad here. We are due for a major cycle bottom in the metals anytime, most likely sometime next week. Don't get chased out of LTBH stuff in PMs. That is if you have any such positions.

I have accumulated promising looking juniors and held/added to bullion. Will do some more next week.

I bet NEM breaks upward sometime next week in a powerful rally. That's a fairly strong "slimjim" in NEM which should be a sign that something is about to radically change this PM market.

cheers,

john

john -- i hope you are right. i also bought NXG a few days ago @ $3.04. mind saying what else you are looking at buying ?

thanx,

ed rader

[swanstkdh]

I am seeing some kind of low this week too. Look at names like CDE, IAG, NXG,KRY. They could rise well if we rallly from here. Look at RYMBX. Is anyone holding that????????.