When Carly Simon sang those words a number of years ago, did she
know something those of us invested in gold mining shares
don't? Painful run without doubt!!
How can we be so right assessing the world financial situation
yet be proven so wrong investing in these equities? Price of
gold goes up, miners lag. Price of gold drops precipitously,
gold shares are hit disproportionately. Frustrating to no
end.
Richie - the charts have been trending down on most gold stocks
for quite awhile now. Please respect the charts versus opinions. I
believe you could benefit immensely from my tutorial.
What Roger has posted below and what I have discussed in the
newsletters over and over again are very important items to
watch.
Roger - nice chart on GDX. It has only managed to provide some
bounce trades of late and the failure to take back the 50 day MA
overhead (as it was declining I pointed out in a few newsletters
that it was nearing an inflection point) on Wednesday led to a
REVERSAL candle yesterday which was confirmed today.
Take note of the chop over the past few weeks when the 9/20 MA's
were moving sideways waiting for the 50 day MA to come down...thus
creating an inflection point. Bulls hope is that such consolidation
was a LS and now moving down to create a Head (understand?).
In any event, the recent action under the hood showing a
fractured index (several stocks breaking down while some bounced)
was just another reason to remain prudent and WAIT for further
evidence (confirmation) that a TRUE reversal could occur to the
upside which clearly failed.
"Haven't got time for the pain"
Posted by RichieD on 24th of Jan 2013 at 02:56 pm
When Carly Simon sang those words a number of years ago, did she know something those of us invested in gold mining shares don't? Painful run without doubt!!
How can we be so right assessing the world financial situation yet be proven so wrong investing in these equities? Price of gold goes up, miners lag. Price of gold drops precipitously, gold shares are hit disproportionately. Frustrating to no end.
Richie - the charts have
Posted by steve on 24th of Jan 2013 at 05:35 pm
Richie - the charts have been trending down on most gold stocks for quite awhile now. Please respect the charts versus opinions. I believe you could benefit immensely from my tutorial.
What Roger has posted below and what I have discussed in the newsletters over and over again are very important items to watch.
Thanks Steve and Roger...
Posted by RichieD on 24th of Jan 2013 at 06:55 pm
The lesson is a simple one: If you trade off the charts, stick to the technicals and forget the fundamentals. No exceptions.
been downhill since october
Posted by roger on 24th of Jan 2013 at 04:06 pm
I wouldn't even touch them until the 9/20 crosses back up
http://stockcharts.com/h-sc/ui?s=GDX&p=D&b=7&g=5&id=t50186842345&r=1359061400561&cmd=print
Roger - nice chart on
Posted by steve on 24th of Jan 2013 at 04:27 pm
Roger - nice chart on GDX. It has only managed to provide some bounce trades of late and the failure to take back the 50 day MA overhead (as it was declining I pointed out in a few newsletters that it was nearing an inflection point) on Wednesday led to a REVERSAL candle yesterday which was confirmed today.
Take note of the chop over the past few weeks when the 9/20 MA's were moving sideways waiting for the 50 day MA to come down...thus creating an inflection point. Bulls hope is that such consolidation was a LS and now moving down to create a Head (understand?). In any event, the recent action under the hood showing a fractured index (several stocks breaking down while some bounced) was just another reason to remain prudent and WAIT for further evidence (confirmation) that a TRUE reversal could occur to the upside which clearly failed.
bpgdm
Posted by roger on 24th of Jan 2013 at 04:45 pm
Again, showing the negative divergence -
http://stockcharts.com/h-sc/ui?s=$BPGDM&p=D&yr=1&mn=6&dy=0&id=p79353578858&a=288070648&r=1359063763191&cmd=print
9/20/50/200 - all in negative alignment. Nothing to get excited about here that I can see.
http://stockcharts.com/h-sc/ui?s=GDX&p=D&b=5&g=5&id=t44434606467&r=1359064531089&cmd=print
dust to dust
Posted by roger on 24th of Jan 2013 at 04:21 pm
goes to show the power of momentum no matter what anybody says
http://stockcharts.com/h-sc/ui?s=DUST&p=D&b=7&g=5&id=t57841512251&r=1359062372708&cmd=print
as usual timing is everything.
Posted by wowten on 24th of Jan 2013 at 02:59 pm
as usual timing is everything.
Well, my timing definitely seems
Posted by sbwoman on 24th of Jan 2013 at 03:26 pm
Well, my timing definitely seems to be off these days.
general market vs miners
Posted by roger on 24th of Jan 2013 at 03:56 pm
since early October, the place to be
http://stockcharts.com/h-sc/ui?s=SPY:GDX&p=D&b=7&g=5&id=t18089550821&r=1359060764394&cmd=print