Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: SwampDogg	9/11/2006 6:32:58 PM
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Obviously there was nothing bullish about today in the PMs. Just about everything that one would look at technically looks awful and the bulls only have a couple of things left to hang on to tomorrow. This is not the end of the gold bull market but if $HUI 298 fails on a closing basis than much lower targets are almost a certainly over the IT. The volume today and the lack of any real bounce reeks of an impulse down. It looks more and more possible that this is the 'C' of a corrective zig-zag that began in May 2006. Targets would be in the $HUI 220 range. When markets begin to break down investors look for funnymental reasons why the market is wrong. The gold bull is alive and well but the LT trend comes in at under $500. It should not be a surprise if we get there as the the war does extend to the markets. If $298 holds then we could be off and running the other way but today was not good. Bought a little but not as much as I intended. Hope tomorrow is better. FWIW if the $HUI made a high of 1 higher degree in May 2006 then this correction could actually go to 165 and still be OK Tomorrow is "it"

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