long-gone,
Spent a lot of time on the charts last night and I have the a/d on some gold stocks to do yet. Dollar is topping, that could be interrupted if other markets tank and send $$ our way, but the dollar is topping and heading lower. Perhaps after election interruptus, ggg.
Our line in the sand is 48.6 on the XAU. Breach that and we will likely see 45. But don't rule out a one day spike low.
We could use a good Hammer on the chart after all this time being Nailed, VBG.
I still am feeling bullish on XAU, just saving some powder.
Many, no, almost all sectors charts look quite horrible at this point and the DOW must break through that 10850 resistance or its going to 10450 or lower. Looking at the OEX chart I realize I was way too distracted being heavy in the oils. What a nice short that would have been and there were a lot of others. This was in my game plan but the market got there before I could get ready and initiate. I had a lot of distrations last week or two, mostly personal. Just spilled milk now for me.
In my case vacation time is soon upon me and I have lightened up hard in everything but gold stocks (They can only add insult to injury there, ggg) in preparation for some "away from the market" time. I'll probably still be checking in now and then, its a hard habit to break.
Best of luck,
Roebear |
