Looks like XAU may be headed higher....it has found support at last weeks low....
Weekly XAU chart
would appreciate comments
Xau headed higher
Started by
ecpinto
, Mar 12 2004 12:45 PM
3 replies to this topic
#2
skott
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Posted 12 March 2004 - 12:55 PM
I was short nem this am and covered at 41.83. I am not entering a long position now if I do Monday or Tuesday would be the earliest. I am waiting for a clear signal and it could go either way.... today's short was pure tape reading trade to make 1%+ in a day.
scott
#3
SilentOne
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Posted 12 March 2004 - 01:01 PM
Hi ecpinto,
Can we do that now?? I'm tired of fighting this market trying to preserve PM positions. I still think this sector will be one of the best performing this year.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#4
PMILLY
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Posted 12 March 2004 - 03:10 PM
I exited my NEM long from yesterday this morning at about break even. I did not like the fact that it could not move up even though it is over sold and the hourly stochastic had turned up. In addition, there was the news about terrorist acts, and the golds had no follow through today and instead were weak. I am neutral and think gold could go either way. I still think there will be a bounce from somewhere in here until the end of March, which will lead to another lower low in April. Personally, I think the best time to buy gold will be in the middle of April. Right now, the weekly charts are turned down and need to bottom before we can begin any real move to the upside. Either way, I don't think this year will be as lucrative in gold. Just my take.
Pmilly
