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Gold/Mining/Energy : McEwen Mining

MUX 18.16

-3.2%

Dec 8 3:59 PM EST

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To: Gimli who wrote (8254)	9/2/2014 9:04:35 PM
From: Robov	of 24532

Do believe I mentioned in an earlier post today the NFP Friday report and what the usual outcome is ahead of it. Good to see I'm not the only one that notices the same pattern. We'll have to see what the outcome is after the report and whether we do get some sort of rally. There is no doubt that the banksters almost certainly covered a good chunk of shorts on this move down today which should appear in Friday's COT data. And technically we are getting close to oversold in gold with gold now into oversold. Another helpful item would be a correction in the POS $ which as Jammes and Wolf pointed out earlier today is approaching some overhead resistance areas. Combine that with the over bought daily and weekly RSI/W%R/Stochastics and the fact that it has closed the last two weeks outside of the upper Bollinger band on the weekly and continues to rise even higher outside the band as of today. At some point it will want to correct even if it does ultimately move higher.

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