CHART UPDATE – THE BULL RESUMES
HUI
stockcharts.com
This chart shows that the HUI has hit a new yearly high and is the best indicator that the correction is over. You will remember from past updates that my long term target on the HUI is 266 and with Friday’s close at 218.21 we are within striking distance.
XAU is near its yearly high and made new yearly high.
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Another gold index I follow is the Media General charts. I have access to these through Worden Brothers whose chart system I use for charting listed stocks. I do not have a chart that I can post, but this broad based gold stock only index has also made a new high and closed at a new yearly high.
I can’t do for you what I did on my charts at home but if you mark the swings on the gold index and compare them to the seasonal chart you will clearly see that there is a correlation and that the gold chart is stronger than the seasonal charts. This is very bullish.
321gold.com
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Newmont- (NEM)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
This chart has made a new high and new closing high today. It is an important bellweather and confirms the indexes move to new highs. I have options on this stock. I AM HOLDING MARCH 40 CALLS ON THIS STOCK. NEMCH IS THE SYMBOL.
Glamis (GLG)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
On verge of new high.
Gold Fields (GFI)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Same
Couer d’alene (CDE)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Notice the MACD crossover. Looks like a new leg up. Also it has a wonderful long term chart.
bigcharts.marketwatch.com
Bema Gold (BGO)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Best performer in the HUI. It is a rocket and I think you can buy any breaks. The really brave can buy here and hold your breath.
Golden Star (GSS)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Another great performer. Same comment as BGO
Agnico Eagle (AEM)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
This might be one of the best performers on this leg up. Remember that it collapsed based on news of a mine shaft problem. I understand that is resolved and this stock may make up some lost ground on this move. I AM LOOKING TO BUY SOME OPTIONS FOR MY ACCOUNT.
Iamgold (IAG)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Another great performer.
Kinross (KGC)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
New highs and I think ready to move higher.
Goldcorp (GG)
stockcharts.com[m,a]dahlyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
I am looking to buy options here. This is a great chart.
Here is a Canadian Jr. that I own and which has not been discussed much on the thread. I have held this stock I have a double and expect much more. McMillan Gold, MMG.V
finance.yahoo.com
Another stock not mentioned that I like a lot is Pacific Rim PMU
stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Live long and prosper,
Little joe |
