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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets. -- Ignore unavailable to you. Want to Upgrade?

To: bostma who wrote (1861)	6/23/2014 10:14:19 AM
From: Robov	Read Replies (1) \| Respond to of 1954

Well from a technical perspective both gold, and silver more so, are overbought. As is GDX and GDXJ was overbought but has worked some of that off on last weeks correction. That said momentum can keep overbought conditions going longer than would otherwise be the case, but at some point these conditions will need to be worked off to have a healthy move higher at some point. As far a Bo and his analysis goes I would suggest checking out his past calls and there accuracy. You can drive yourself crazy reading the multitudes of analysis as some are bearish like B of A's Curry still calling for sub 1180 gold by the end of the year and others calling for 2,000+ by the end of the year. One might be right and both could be wrong. One thing I am sure of though based on the weekly H & S bottom I've been tracking on the GDX/GDXJ is that the miners have put in their lows and will see higher prices as the year progresses. The massive increase in volume, record volume I might add, is what tells me they have reached a bottom and are being aggressively bought. Here is the latest chart I posted at the end of last week with an updated analysis. Message 29591163

To: bostma who wrote (1861)	6/23/2014 1:50:38 PM
From: The1Stockman	Respond to of 1954

Next Monday is end of 2014-Q-2, ... I'm sure profits from this most recent Bull Run in the PM's by Fund Managers of all types will look good on paper for their costumers, ... as they take some profit to add to the artificial gains that are unsustainable for the most part that came from the broader markets, much of the action in the B-3 are, and have been coming from selected sectors lately, and most of them have been Milked Dry, so it makes sense to pump up Gold and Silver, ... as it offers some of the Best opportunities for quick gains, ... seeings how beat up its gotten over the past couple of years. Lets see if its sustainable, a move back below $1,300 has the potential to take it back to the low $1,280 area, and we drop another $20 from that point to its next support. On the other hand, if it can take out the low $1,330 area in the next few days, then we might have something here, but ultimately, we need to get back to and above $1,392 asap. Regarding MUX, ... a move back to the breakaway-gap at $2.43/45 might come into play if violates and or closes below $2.63. Today's low thus far has been $2.69 and if it close below $2.75 today or by mid week, MUX might become a candidate for a quick run to the gap. I would consider buying some MUX if it does return to the low $2.40s. On the other hand, ... if MUX can sustain a nice base above this area, preferably above $2.82/83 today or by mid-week, it could make another attempt at the $3.08, especially if it can move and close above the $2.87 on strong volume, today's volume, with the exception of just a few on my list, ... are at or below average, but we still have a few hours of trading left yet!