17 replies to this topic

[PMILLY]

Looks as if gold has begun a solid move to the north, and my indicators are showing strength. I may now buy some stocks on any decent pullback. I still think we have lower lows coming in April but will try to take advantage of strength for a s/t trade. Comments welcome . Pmilly

[stockbucks_coffee]

going long is the best trade for now. s/t indicators are up. best case, this past month or two, was a forming of a double bottom pattern (which then means a m/t up trend.) good luck trading PMilly. SC.

[Rock]

Looks to me like HUI poked it's head above the declining tops line and got it bit off. I also want to see gold close decisively above 410, not tease us then disappear. The whipsawing since Dec. has been intense. I suspect PM stocks won't go until the market leads the way. Spx is now a better indicator for gold than $$.

[stockbucks_coffee]

didn't like the price action at the 2nd half of the day... sold half my positions and will sell the other half if xau/hui don't move up tomorrow. may be just a brief pullback similar to the stock market's pullback today after yesterday's big rally. will see. SC.

[stockbucks_coffee]

maybe I shouldn't had sold half my position. on any pullback tomorrow will buy back the shares as the s/t trend is still up for now. best case, the m/t is up.

[The_Gold_Miner]

Lot's of head fakes these past couple of weeks, I still remain very cautious and don't think that today's move signified any change in trend. Take a look at the XAU P&F chart, we need to be at 104 or higher to confirm a breakout and we could easily head down from here at the same speed.

[PMILLY]

I think all of you are right to be cautious. I know I have been. There will definitely be better days in the future to buy gold. I would like to catch some of these short term pops, but I was early in NEM last week. I'm still on the sidelines and have been trading in other venues right now. Tomorrow could be a telling day because if there is weakness again, it could turn around as Gold Miner was saying. Either way, it is still too early to tell for anything besides the short term. I still may to trade on the long side if the pullback looks corrective. Pmilly

[skott]

anybody else short the gold stocks? I went short today(friday) near the highs. I have a target of 43.45 on nem. taking some deep breaths. scott

[PMILLY]

I'm not currently short NEM, but I think it is reasonable that it could pull back to the 43.50 area. I do not like to short gold stocks if they start a move and look fairly strong. Been burnt too many times. Now, if NEM pulls back to your target, and the pattern looks corrective, I may buy in that area next week . Just my take. Pmilly

[skott]

I'm not saying it will happen but there is still a good chance the gold stocks will sell off heavily. I am not playing that now but looking for short term profits and still looking for the intermediate signal to go long or short. scott