4 replies to this topic

[PMILLY]

The gap in the XAU that could have possibly been an island reversal is closed this morning during this sell off. Gold stocks could still bottom when the XAU hits around 97 forming and inverse head and shoulders pattern or maybe we make new lows from here below 92 completing a possible a-b-c correction or 1-2-3 down. This last part is pure speculation obviously (the problem I have with e-wave). A lot of uncertainty, though I favor the situation where the XAU holds in the 97 area for now. All I know is that the charts don't great, as mss has shown, and the dollar looks like it is holding support at 88 after its recent run up. This situation does not bode well for the golds. I still think they may have a decent move up in late March before having an intermediate term bottom in April. Just my thoughts for what they're worth. Feel free to respond. Pmilly

[mss]

A repost from yesterday.
Fearless Forcasters Board

[stockbucks_coffee]

The xau/hui have corrected down to important support trendline, where the triangle lines are converging. xau/hui going to have to hold around this level xau=97 and hui=222 otherwise i may close out my positions here. break either way should be a strong move...i still think its to the upside.

[dougie]

MSS : where did you see the beta stockcharts? And are you seeing todays action as bullish?

[mss]

dougie, the Beta charts link can be found on the Home page of StockCharts.com or if you are a Extra member up at middle is a link on your main page. As to bullish, do not have a clue at this point. Back in Jan. I made a F. F. of SPX 1105 and got laugh at, but hell, by shear luck, i may be right Will take a hard look tonight, best to you-mss