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

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

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To: loantech who wrote (20110)	6/29/2010 4:45:56 PM
From: gold$10k	1 Recommendation Read Replies (1) of 48092

Maund's H&S patterns for Dow and SPX have approached/reached their necklines after forming abbreviated right shoulders. stockcharts.com stockcharts.com As awful as these daily charts look, they are still above the support of the neckline and also very oversold short-term and so may bounce soon (and possibly even form a 2nd right shoulder)... or not. Bear markets can stay oversold for quite a while. Gold is clearly the strongest asset class. GDX is still above its BB midpoint but showing more vulnerability to general market downdrafts. stockcharts.com FWIW SDS (2x short SPX ETF) is a good form of insurance for those without access to put options. One way to time an SDS purchase is to wait for the neckline to be clearly broken which is usually followed by a rally back to the neckline. Buy when that rally is about to run out of steam. Good luck to all.

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