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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: littlebitmoore2 who wrote (32507)11/28/2011 8:49:32 PM
From: gold$10k  Respond to of 48092
 
Thanks for noticing. <g>

Da Boyz have been running ups and downs to extremes of short/medium term overbought/oversold. Rather than choosing number targets, I would rather look for overbought conditions on the hourly chart... RSI clearly above 70, maybe on 2 or 3 separate days... MACD strongly positive and rolling over... or maybe it just looks overbought.

One other pattern... it's been one month good / one month bad... October was up, then November was down, so this rally may stretch into a Santa Claus hallelujah before the markets head lower in earnest.



To: littlebitmoore2 who wrote (32507)11/30/2011 10:27:34 AM
From: gold$10k  Read Replies (1) | Respond to of 48092
 
<<What levels in the SPX, GDX, and GLD do you see being reaching in what you describe as a "decent bear market rally">>

I would say that this qualifies and may be as far as it goes. SPX has rallied back to the point where it broke down from its triangle formation and GDX/GLD have rallied near overhead resistance. Also, the overbought characteristics I mentioned here are mostly in place or could be soon.

Message 27791756



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