Posted by dallassteve on 23rd of Apr 2012 at 10:13 am
Matt,
Thanks for the many gold stock charts in the weekend newsletter.
Please take a look at NGD, SLW, and TRX. These and BVN are
the only PM stocks that have a bullish P&F chart
(according to stockcharts last friday). Do you think this
means much?
I am also fine with GDX selling off a little more. Your
chart of USD:SPX shows the ratio broken to the upside, so my mental
scenario is that USD is trending up for a week (or two?), SPX and
GDX is trending down.
I am preparing to buy some gold miners, but am going to wait a
little longer and see if the USD does indeed rally, etc. If
GDX gets down to the 41 area (the bottom of the support range you
indicated) it will be a screaming buy!
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GDX
Posted by dallassteve on 23rd of Apr 2012 at 10:13 am
Matt,
Thanks for the many gold stock charts in the weekend newsletter.
Please take a look at NGD, SLW, and TRX. These and BVN are the only PM stocks that have a bullish P&F chart (according to stockcharts last friday). Do you think this means much?
I am also fine with GDX selling off a little more. Your chart of USD:SPX shows the ratio broken to the upside, so my mental scenario is that USD is trending up for a week (or two?), SPX and GDX is trending down.
I am preparing to buy some gold miners, but am going to wait a little longer and see if the USD does indeed rally, etc. If GDX gets down to the 41 area (the bottom of the support range you indicated) it will be a screaming buy!