My opinion on Gold.
LT of course, very bullish.
Friday's action was very bullish, but the HUI did not break out on friday. I am waiting for a confirmed, strong breakout in the HUI before fully committing myself in the miners. It could come Monday, maybe not for another month, but I feel its coming soon.
I looked at the charts of all the US traded miners this weekend, and figured I'd post my TA.
Very Bullish: (Intermediate term impulsive up waves)
HGMCY, GSRSF, LIHRY, BGO, RGLD, PAAS:
All very bullish charts intermediate term. However, many look due for some significant corrective action. I have a large position in HGMCY, which I am not adding to. BGO is one I might accumulate now, its a fav. for me. RGLD looks like a good buy after some more corrective action.
KGC, FCX, NEM, KRY, TVX, CDE:
These charts look very bullish to me right now. They are all showing strength and near breakout points. In particular I like KGC, FCX, and TVX. These could lead the golds in the short term.
GG, HM, GLG, AEM, MDG
Sad to say, but these leaders look tired, due for some corrective action. I still do have a large position in GG, but the longer term charts look like we might be forming a bearish wedge. HM definately looks like a bearish wedge, AEM is displaying a corrective pattern, GLG and MDG look like they might begin corrective patterns soon which would limit explosive upside potential.
ASA, ECO, AU, ABX, PD, GBGLF, CUSIF, WIRE
No real opinion on these. Some look somewhat bullish, however Nothing really jumps out at me.
Just my opinion, I'd love to hear criticism, I might not respond quickly as my weeks are busy with classwork and interviews for the real world in spring. Also, would love to hear any US traded metals stocks I missed.
JWest0926 |
