One thing to note, on Thurs - Friday, the HUI did not outperform
relative to gold, take a look at the ratio on a 15 min chart, it
trended down from Thur - Fri. I could see one more slight
pullback early this week in gold socks to form a slightly lower
high, that would be healthy in my opinion.
Posted by treid4dou on 17th of Aug 2008 at 02:39 pm
the ratio has made its low.....in terms of XAU/Gold ratio...it
was 0.166.... it will not violate it.....but this is not
necessarily the indication of a low in Goldstocks....as for any
price in Gold ...a ratio will exist.....Thing is if we bottom at
these levels in HUI and Gold metal.......with a decent bounce till
October....then, maybe re test in November......and further rally
from there....Only trouble is deflation and deleverage....of all
assets......and how Goldstocks will behave under a Broad Mkt.
correction from 1313 to 1060......next 20% correction....
Be careful about making statements
like 'it will not, it must happen, it can't happen. The market can
do anything it wants to.
For example, I've seen too many
traders say the market can't rally because of some fundamental news
doom and gloom etc. Many here have tried to short the market the
whole time from July 15, and the market keeps pushing higher. You
don't need to pick tops and bottoms to make money in the market,
and in fact many go broke trying to pick tops and bottoms. Trade
the charts, not the news, and there are not absolutes with the
market, you have to
go with the flow.
That's why the Watch List does pretty well, I keep it objective and
the trade ideas there are from an unbiased mindset. Traders need to
lose their bias, the best traders are unbiased and trade the
charts. Turn the TV off, Stop Reading Russel and the end of the
world stuff.
My point was yes gold stocks
outperformed slightly for the week, but not as of Thur and Friday,
that's all, don't read anymore into it than that.
One thing to note, on
HUI
Posted by matt on 17th of Aug 2008 at 01:57 pm
One thing to note, on Thurs - Friday, the HUI did not outperform relative to gold, take a look at the ratio on a 15 min chart, it trended down from Thur - Fri. I could see one more slight pullback early this week in gold socks to form a slightly lower high, that would be healthy in my opinion.
the ratio has made its
Posted by treid4dou on 17th of Aug 2008 at 02:39 pm
the ratio has made its low.....in terms of XAU/Gold ratio...it was 0.166.... it will not violate it.....but this is not necessarily the indication of a low in Goldstocks....as for any price in Gold ...a ratio will exist.....Thing is if we bottom at these levels in HUI and Gold metal.......with a decent bounce till October....then, maybe re test in November......and further rally from there....Only trouble is deflation and deleverage....of all assets......and how Goldstocks will behave under a Broad Mkt. correction from 1313 to 1060......next 20% correction....
Be careful about making statements like
Posted by matt on 17th of Aug 2008 at 02:43 pm
Be careful about making statements like 'it will not, it must happen, it can't happen. The market can do anything it wants to.
For example, I've seen too many traders say the market can't rally because of some fundamental news doom and gloom etc. Many here have tried to short the market the whole time from July 15, and the market keeps pushing higher. You don't need to pick tops and bottoms to make money in the market, and in fact many go broke trying to pick tops and bottoms. Trade the charts, not the news, and there are not absolutes with the market, you have to go with the flow. That's why the Watch List does pretty well, I keep it objective and the trade ideas there are from an unbiased mindset. Traders need to lose their bias, the best traders are unbiased and trade the charts. Turn the TV off, Stop Reading Russel and the end of the world stuff.
My point was yes gold stocks outperformed slightly for the week, but not as of Thur and Friday, that's all, don't read anymore into it than that.
Be careful about making statements like
Posted by arl3080 on 18th of Aug 2008 at 08:09 am
Be careful about making statements like 'it will not, it must happen, it can't happen. The market can do anything it wants to.
Many years ago on the CME floor a trader told me"The market is gonna do what it's gonna do,when it's gonna do it--No matter what"