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Technology Stocks : Max90's LINK STORAGE to stock quotes
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To: Crimson Ghost who wrote (3464)10/22/2008 2:53:07 PM
From: LTK007  Read Replies (1) of 3906
 
!!*****!! All i can say, is the $XAU chart is TA mean that is majorly mean.
One can't but be cautious now that it has broken a extremely critical support.
Bounces yes, but $XAU is now but 75 and that is a warning to all miner ETFs in terms of the intermediate term.

This is an absolute CRASH going on in miners, and when supports are broken, that creates more selling.


Big question is what is feeding this massive sell off???????????? Soros would say the ETFs themselves are causing it.

Crude being down reduces costs of production, and POG is still a profit making price for many miners.
But the miners are getting killed.
i have , what i believe to be AN IMPORTANT article by Soros that WARNED strongly that ETFs could cause CRASHES in their sectors.
He writes this ETF explosion is quite dangerous.
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