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....
Probably will get some capitulation
HUI 5 wave anyone??
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