Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: No Mo Mo who wrote (18194)	5/7/2010 11:53:43 PM
From: gold$10k	Read Replies (3) of 48092

<Not one looked as over-bought as EGO's> That's probably why Cramer chose it... a little personal joke on the bagholders. As to the path for gold to reach $1050, GDX $40, and the DOW 8500... Think of yesterday's DOW low as marking the right side of the neckline of a head and shoulders pattern. It is also halfway to 8500 from the peak. Forming the H&S would likely require a return to yesterday's low (Adam and Eve), a bounce to January's high, and then a break of the H&S neckline at yesterday's low with a target of 8500. stockcharts.com Gold and GDX have not (yet) had a plunge to their potential necklines at gold $1125 and GDX $46 (halfway to $1050 and $40), but if that happened I would expect the right shoulder of the H&S for each to be similar to that of the DOW and breaking the necklines gets you to targets of gold $1150 and GDX $40. After that the crystal ball gets fuzzy, but if DOW continued lower from 8500 in August while gold and GDX rallied, that would be a totally believable disconnect. These patterns and their numbers work so perfectly that it makes me wonder about the "unseen hand of the market". Of course, all of this is intended for entertainment purposes only. <g>

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next