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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.
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To: bostma who wrote (1863)6/23/2014 11:14:51 AM
From: Robov   of 1954
 
Well I mentioned being on the train when it leaves the station over on the MUX board last week I think. Correction or not you will want to be on board and if you have some dry powder to add a little more in case we do get a pullback then all the better. I look at at the RSI and the Stochastic on my Netdainia chart and the pattern is consistent. When the Stochastics tops and the RSI is above 70, almost 80 in the case of silver, the price has always. always corrected lower. And like wise when the Stochastics hits the bottom and the RSI fall below 30 the opposite happens. So at some point price will just naturally want to correct, whether we hit 1180 again is a mugs game IMO. In fact calling any level on any time line is a mugs game too. Even in manipulated markets technical indicators still work but timing of any corrections is the unknown.
like I said based on the two gold markets vector ETF's, GDX/GDXJ the massive increase in the volume indicates that a lot of shares have changed hands since the beginning of the year and that kind of record volume in a sector that has just experienced a brutal 3+ year correction of 70 - 90% in some cases is saying to me that someone is getting into this sector expecting higher prices. Lets face it are you going to invest in the broad market that is at ATH's and in extreme bubble territory on low volume or would you rather invest in a market that is at multi year lows and is seeing record volume coming in.
I know where my money is
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