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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From: Wade	3/8/2009 11:06:45 AM
	Read Replies (2) of 48092

Where are we? Let me recap the GPS: No doubt, the general stock market is still in the deep slide. 1. XAU/SPX stockcharts.com[w,a]waclyyay[df][pb10!b40][vc60][iUh14,3!La12,26,9]&pref=G Gold stocks are still raging bulls but they are over bought in both the ST and MT. 2. XAU/Gold stockcharts.com[w,a]waclyyay[df][pb10!b40][vc60][iUb14!La12,26,9]&pref=G Gold stocks are making very mild correction whilst the general market drops violently. The ratio needs to move 2X to historical level. 3. Gold/SPX stockcharts.com[w,a]waclyyay[df][pb10!b40][vc60][iUh14,3!La12,26,9]&pref=G The price of the physical gold is making parabolic rise vs. the stock market. What we saw is that the gold is still making very strong move. XAU is still very cheap vs. gold. Both gold and XAU are overbought vs. the general stock market. But, it doesn't mean XAU correction is near. Actually a rebound of the stock market is a more likely scenario. We shall see.

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