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Gold/Mining/Energy : Rubicon Minerals
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To: wolfgangrene who wrote (424)6/19/2014 5:25:21 PM
From: The Ox  Read Replies (1) of 470
 
I would disagree on your comment that those gaps need to be filled. Mainly because they are in the trading zone that spanned more than 2 months before the stock reached it's short term bottom.

In breakout formations, I don't think gaps of this nature and size are all that important, especially in the grand structure of the higher lows that were created during the basing process.

On a minor note, I felt a slight vindication that RBY dipped ever so slightly below 0.93 before the rebound took place. From the end of March:

With today's action, the next downside targets I have are $0.93 then $0.82 cents, fwiw. No reason it has to keep falling but with gold weak, hard to see why it can't keep sliding south.

One note, the day after triple witching can often be an anomaly. Certainly, there are reasons to be cautious given today's weakness.
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