Posted by dodgerdog on 7th of Jul 2008 at 02:26 pm
Please take note that gold stocks are trading with the broad
market today - in other words money is NOT flowing into this sector
despite today's selling. In fact, they are underperforming the
broad market at this time. With that said, the sector is at support
so we're fast approaching put up or shut up time for the Gold
Bugs.
Here are the key support levels:
XAU 181-183 HUI 420-422 GDX 45.3-45.85 these are support
AREAS that also relate to their respective 20 day MA's.
Gold Stocks
Posted by dodgerdog on 7th of Jul 2008 at 02:26 pm
Please take note that gold stocks are trading with the broad market today - in other words money is NOT flowing into this sector despite today's selling. In fact, they are underperforming the broad market at this time. With that said, the sector is at support so we're fast approaching put up or shut up time for the Gold Bugs.
Here are the key support levels:
XAU 181-183 HUI 420-422 GDX 45.3-45.85 these are support AREAS that also relate to their respective 20 day MA's.
Thanks for the perspective, dodger
Posted by kreem on 7th of Jul 2008 at 02:32 pm
Thanks for the perspective, dodger and others. Helps keep me on track when I'm not staring at my 43 monitors all day long!
Gold Stocks
Posted by rgoodwin on 7th of Jul 2008 at 02:31 pm
Great Analysis. I was kind of thinking that line but wasn't sure how to phrase it just right!