Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: A Horse With No Name who wrote (31003)	8/31/2011 4:03:05 PM
From: ItsAllCyclical	of 48092

Certainly possible, but if so I think it'll coincide with a spike to new highs in POG. That high will be greeted with disbelief, too much to fast. A GDX breakout at that point would probably be a false breakout or at the least require a retest of the breakout area. Need more time for POG to consolidate to make the HUI/GDX more sustainable I think. I have enough exposure I'm fine either way. Notice that GDX required SPX to rally back even though gold didn't really change much from the SPX drop from 1220 to 1210 and then the last min rise again. Would you go long SPX here on more QE promises? GDX is starting to diverge from the SPX but we're not there yet.

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