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Strategies & Market Trends : Longer-Term Market Trends
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To: ItsAllCyclical who wrote (1561)8/5/2008 9:48:24 AM
From: AllansAlias  Read Replies (2) of 3209
 
Yeah... there is still no reason to be buying the dip in gold miners. Still waiting for first possible buy zone imo around HUI 340-345, per this chart from July 21:



Even then, hitting that zone would have to coincide with terrible sentiment and a viable impulsive ('C' wave) count down out of the July 15 'B' top.

For my fellow Canucks, this dollar strength is starting to hit us a bit now. Look at FXC, which tracks the Canadian dollar. It is hitting lows not seen since nearly a year ago and it is falling out of a long consolidation shelf:

stockcharts.com
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