$411 on the spot gold...time for low ball miner bids...
My goodness, me....when those trend indicators turn they do so with a vengence....Can't say I didn't tell me so...Oh well, if one is a believer....that investment demand will eventually drive out the paper shorts I suppose it's time for some low ball bids....Might be a bit climactic today...Off to the charts...
Before I go I'll throw up this chart of the HUI in which one can see the divergent pattern in the DMI and other indicators on the last charge in the miners....yesterday's break was really the signal to exit...so I'm not to inclined to be aggressive, yet....seemingly we'll see mid range indicator reading at least and if the seasonal has any play here some negative readings before all is said and done....would prefer the short and brief script to this correction, but if Gold and miners don't reverse to positive today, I'm thinking that's out...
stockcharts.com[h,a]dacaynay[db][pb40!c40!c50!c100!c200!f][iLl14!Lp14,3,3!Le12,26,9!Lb14!Lm12!Lya7,14,28!Ld20]&pref=G
221 or 212 looks to be the target....Friday a good a time as any as it corresponds to opioion expiration and likely a rally in the dollar on economic news...Right now it all looks to have the feel of speculator liquidation in the metals... |
