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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: SwampDogg who wrote (9958)	11/17/2007 12:18:31 AM
From: jimsioi	Read Replies (3) \| Respond to of 29622

Swampdog, good point, PM miners show good relative strength since August, but GDX has underperformed the SPY (S&P500) this month, most indicators are at least somewhat bearish, support has been violated...The 50 day moving average for the moment has held...Wait till next week when we revisit 43-42 on a $20 further plunge in GOLD. stockcharts.com Color me "bearish" I don't think miners of gold and silver have yet to distinguish themselves as an alternative asset class that will withstand the bearishness elements at play in the general market....They may, maybe they should, at some point, but GOLD will lead the way before they do....and right now GOLD has lost positive momentum and is under long luquidation from funds eager to get out for the holidays....It's not about what should be....but what is...