Gold stocks are moving up, remember
we stated that we thought they could have an oversold rally. Here's
the 15 min GDX chart, a potential target to the upside would be the
200 EMA. When Friday's high of 44.7 was taken out, that was a
positive sign. The gold stocks mentioned in the newsletter besideds
GDX (ABX, GG, NEM) are up nicely
I remember looking at platinum last summer-fall, and it
had major support and it kept retesting it at 1300, and
earlier this year it rose to over 2400, and recently pulled back to
1700, which is around the traditional 62% between the 1st 2
numbers, was 1750-60 this AM, and can see it going to 1850, which
would be 50%, before pulling back like you think gold will have a
short term burst, then pull back further this summer.
Thanks rafe. It bounced up and down early this AM $5
either way before the market opened. Appreciate you letting
us know what a nice little pop it had today, best day in awhile,
it's been pulling back for weeks, or months actually.
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GDX 15 min chart.png Gold stocks
Posted by matt on 28th of Jul 2008 at 10:50 am
Gold stocks are moving up, remember we stated that we thought they could have an oversold rally. Here's the 15 min GDX chart, a potential target to the upside would be the 200 EMA. When Friday's high of 44.7 was taken out, that was a positive sign. The gold stocks mentioned in the newsletter besideds GDX (ABX, GG, NEM) are up nicely
SWC
Posted by bob52 on 28th of Jul 2008 at 10:51 am
SWC, a platinum company, is also having a good day along with the gold stocks.
I've been watching SWC and
Posted by matt on 28th of Jul 2008 at 11:07 am
I've been watching SWC and it's setting up into a bottoming pattern, really needs to get over those MA's to get going, but doing nice today so far
SWC
Posted by bob52 on 28th of Jul 2008 at 11:15 am
I remember looking at platinum last summer-fall, and it had major support and it kept retesting it at 1300, and earlier this year it rose to over 2400, and recently pulled back to 1700, which is around the traditional 62% between the 1st 2 numbers, was 1750-60 this AM, and can see it going to 1850, which would be 50%, before pulling back like you think gold will have a short term burst, then pull back further this summer.
platinum
Posted by rafe on 28th of Jul 2008 at 11:25 am
up $26
platinum
Posted by bob52 on 28th of Jul 2008 at 11:33 am
Thanks rafe. It bounced up and down early this AM $5 either way before the market opened. Appreciate you letting us know what a nice little pop it had today, best day in awhile, it's been pulling back for weeks, or months actually.