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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Frank Pembleton who wrote (44789)6/20/2013 2:46:24 PM
From: Frank Pembleton2 Recommendations

Recommended By
Mike M2
zamboz

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Just checking out the Dow30 chart, candles have been hovering above the 50-dma since the beginning of January. It's incredible that it took a full 6-months to finally close below, some incredible gains there. Using the same indicator on gold? No one should have played it long. That said, the bottoming pattern over the past month on both gold, and the gold stocks were beginning to confirm one another. So I can fully understand the soreness of today's action. The lesson presented here is patience, or at least wait until there's a confirmed uptrend.
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