Posted by treid4dou on 12th of Aug 2008 at 12:12 am
Probably will get some capitulation 2morrow on Goldstocks and
related metal stocks....SWC, PAL. Seen URRE made a 52 wk
low..!!! under 2.00. GSS, CDE...at bargain
prices...and many others
Margin calls on highly leveraged long gold/short $, are the
reason for this sell off. Open Interest must be falling by 20K
contracts per day...at this stage....Over 85K from last COTs
report...for sure....till today....
Market may be recognizing the lack of financing in the mining
sector in the future, putting another pressure on the sector.
Hui 280 good target.....SLV 14.00/13.50.... The ride up will not
be easy or fast, after the initial oversold bounce....
Looking at Live 24hr Gold Chart. (12:15AM EST) It
appears heavy selling during first 45mins of Asia Hong Kong
open. Do you think since NY close down so sharply that stops
on Hong Kong market hit therefore making a "False" sell
off?
Hong Kong market just traded $ 807.90 which is $ 5 bucks above
Hong Kong intraday low
That's what I said below,
HUI 5 wave anyone??
Posted by matt on 11th of Aug 2008 at 11:49 pm
That's what I said below, that it was down after hrs
If gold gaps down tomorrow, that could potentially put in some kind of bottom
Probably will get some capitulation
Posted by treid4dou on 12th of Aug 2008 at 12:12 am
Probably will get some capitulation 2morrow on Goldstocks and related metal stocks....SWC, PAL. Seen URRE made a 52 wk low..!!! under 2.00. GSS, CDE...at bargain prices...and many others
Margin calls on highly leveraged long gold/short $, are the reason for this sell off. Open Interest must be falling by 20K contracts per day...at this stage....Over 85K from last COTs report...for sure....till today....
Market may be recognizing the lack of financing in the mining sector in the future, putting another pressure on the sector.
Hui 280 good target.....SLV 14.00/13.50.... The ride up will not be easy or fast, after the initial oversold bounce....
it may be smart not
Posted by dylan398 on 12th of Aug 2008 at 08:51 am
it may be smart not to buy gold or related stocks early and wait for a rally after the 2:30PM time frame
Matt, Looking at Live 24hr Gold
Posted by cspirit on 12th of Aug 2008 at 12:09 am
Matt,
Looking at Live 24hr Gold Chart. (12:15AM EST) It appears heavy selling during first 45mins of Asia Hong Kong open. Do you think since NY close down so sharply that stops on Hong Kong market hit therefore making a "False" sell off?
Hong Kong market just traded $ 807.90 which is $ 5 bucks above Hong Kong intraday low
Look forward to your comment
Chris
If we gap down with
Posted by cwa82675 on 11th of Aug 2008 at 11:57 pm
If we gap down with gold down 15+ points I will buy the heck out of gold stocks if we stabilize in the first half hour.