We can't cover everything all the
time, especially when nothing has changed.
We are expecting gold stocks to
possibly put in an oversold bounce soon, but I think it could be a
wave B bounce to lower highs, and then a wave C sell that would
result in capitulation. Gold stocks also don't necessarily move
with the metal. Also, GDX is still in a downtrend, no reason
to go Long yet, and again I think it would be for a bounce, not a
major bottom. Still see the potential for gold testing the 65
week MA over time
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We can't cover everything all
DZZ Ultra Short Gold - Was discussed yesterday and is ...
Posted by matt on 29th of Jul 2008 at 03:40 pm
We can't cover everything all the time, especially when nothing has changed.
We are expecting gold stocks to possibly put in an oversold bounce soon, but I think it could be a wave B bounce to lower highs, and then a wave C sell that would result in capitulation. Gold stocks also don't necessarily move with the metal. Also, GDX is still in a downtrend, no reason to go Long yet, and again I think it would be for a bounce, not a major bottom. Still see the potential for gold testing the 65 week MA over time