I was going to buy some calls on PDG,
members.home.net
XXXXXXXXXXXXXXXX
The XAU is bottoming in either wave 1 of a major decline or wave b of a larger
correction. The bottom line is to expect a countertrend rally to emerge very soon.
Size and nature of it will dictate which count prevails.
I am not too sure if the current decline is over or not but PDG is telling us a short
term bottom is close at hand. For the XAU the next support is 58.20. Once the
decline over, if not already so, expect a rally..
Even if PDG is clearly showing an impulse wave from the June high, the decline
in the XAU is not as foretelling. So we must leave the door open for a larger
rally, at least for the XAU. Besides, Gold is finishing an impulse wave on its own
and can be ready to move back up to first resistance @263, a previous fourth
wave high and the 23.6% of the decline that started in March. So for this week,
moving above 60.50 will be the first signal the bears are taking a break for
several days. Resistances are 61, 63 then 64. Moving beyond that will increase
the odd we are indeed in a flat and XAU is going back to at least 67.60.
XXXXXXXXXXXXXXXXXXXXXX
but looked at the chart , and did some tea reading.
at least AEM is hanging around the 150 day moving avg, PDG was below everything.
I went with 5 calls, on AEM, look like a good bet to me.
so we shall see, I have done very badly on my calls on AEM,
so this will be one more shot,
with gold at 250, about 40 % of gold production is unprofitable.
they just have to bite the bit and shut it down.
England don't care about them, so why care about England in future. |
