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Gold/Mining/Energy : Sandstorm Gold

SAND 12.12

0.0%

Oct 24 9:44 AM EST

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To: TheSlowLane who wrote (711)	10/25/2012 12:35:15 PM
From: architect*	1 Recommendation of 1133

SAND the 50 dma is $11.88, and the 50% retrace of the move from July to SEpt is $11.42 many of SAND's peers or companies similar to companies that SAND invests in SVL.v, BRD, Luna Gold, are below the 50 dma and approaching the 38% retrace. Gold was close to the 38% retrace with the $1,698 print yesterday, and silver tagged the 38% retrace yesterday. Support or a bounce off that 38% retrace is typical. The daily charts of CGR and FSM are close to generating a buy signal with my settings. Of the juniors I follow, Aurcana AUN.v tagged the 50% retrace at $1.02 yesterday. Kitco noted the FED 10/25 comments caused the bullish rally in gold, today. Continued low interest rates and long term bond buying by the FED has to cause bond sellers to buy gold. The data points of weakness in North America and European economic growth, the recent decline in oil prices, and low housing prices don't imply increasing inflation in the USA.

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