Buying the dips, or dodging the bombs...
Come back at the close and move to the positive in MDG for example is encouraging for tomorrow. I was thankful to escape the day with a gain due to up moves in my "miner hedges" DIA and QLGC, both of which I sold at the end of the day. Gold is now in fairly short term oversold territory, but seemingly lost its sponsorship...Little lower at the opening tomorrow, along with one last push at 8300+ that fails in the DOW (prior to a retest of 81), and maybe the miners will firm up. But it seems to me, for the time being the HUI machine is broken...capable of a bounce but hardly much more.
HUI did hold its 200 day ema, but it's hanging on to it bearly. Ultimate did rise above 50 and a higher high tomorrow without a lower low would further the ending of the negative trend expressed by the DMI's current configuration. However, serious overhead exists for the index from 114-116.
stockcharts.com[h,a]dbcaynay[dc][pc50!c200!c20!c13!f][iut!Lya7,14,28!Ll14!Lp14,3,3!Ll14!Ld20!Lya7,14,28]&pref=G
MDG
siliconinvestor.com
After market seems to have likely what it heard from MSFT and the index trackers have gone back up to or above their highs of the day.....looks like more of the same rally thing tomorrow at least early for general equities. Seemingly it's there that holding on and being strong is paying....and to a lesser degree in the energy sector, thankfully.
DXE, coming on....
stockcharts.com[h,a]dbcaynay[dc][pc50!c200!c20!c13!f][iut!Lb14!Lya7,14,28!Ll14!Ld20!Lya7,14,28]&pref=G |
