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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (19983)6/23/2010 9:48:09 PM
From: gold$10k  Read Replies (3) of 48092
 
IMO PM stocks held strong during last Friday's OPEX in sympathy with SPX. SPX had huge downside volatility late May/early June so Da Boyz held up SPX during OPEX to make SPX puts expire worthless. PMs and SPX both fell in sync after OPEX because there was no longer a need to keep SPX up.

Now comes a setup for one last SPX rally next week before it is ready to complete the H&S as Maund outlined. I expect gold and GDX to rally (in sync with SPX) to new highs by 7/2. After that I don't know.
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