ABX - Chart Link - overall the gold stocks
are down again nicely today, notable exceptions are ABX, NEM, AEM,
earnings were better than expected. But many like GG
getting taken to woodshed
I'm just watching them, some like ABX etc hold up fine others
are not though still most are above long term MA's like the 50 MA
and GDX is well. A pullback could be 50% to 62% on GDX so
that would bring it to the 50 MA so there's plenty of room to go.
I still think GDX has a chance to form a higher lower
sometime on the pullback but we'll just have to monitor. just
watching for now, but clearly most continue to weaken for now,
monitor 20 and 50 MA's, the 20 MA may be testing on some of these
as the 20 pro will not hold.
just have to monitor them and see if they can find support with
some patterns that would want me to buy such as wedges etc.
with trading you can have an idea of what you think will occur
but you have to react and trade what actually occurs as your
preference may not play out
Posted by hamvestor on 29th of Oct 2015 at 02:39 pm
Matt, the 50 dma on GDX seems so obvious as a target that it
makes me think GDX either won't accommodate us by dropping down
that far, or it will bust thru the 50 dma and head down
further.
pm stocks
Posted by matt on 29th of Oct 2015 at 11:55 am
ABX - Chart Link - overall the gold stocks are down again nicely today, notable exceptions are ABX, NEM, AEM, earnings were better than expected. But many like GG getting taken to woodshed
NEM - Chart Link
GG - Chart Link
PMs
Posted by lsherrer on 29th of Oct 2015 at 01:35 pm
Matt, are you still waiting for a sufficient pullback in the PM sector to make some long-term buys ?
I'm just watching them, some
Posted by matt on 29th of Oct 2015 at 01:39 pm
I'm just watching them, some like ABX etc hold up fine others are not though still most are above long term MA's like the 50 MA and GDX is well. A pullback could be 50% to 62% on GDX so that would bring it to the 50 MA so there's plenty of room to go. I still think GDX has a chance to form a higher lower sometime on the pullback but we'll just have to monitor. just watching for now, but clearly most continue to weaken for now, monitor 20 and 50 MA's, the 20 MA may be testing on some of these as the 20 pro will not hold.
just have to monitor them and see if they can find support with some patterns that would want me to buy such as wedges etc.
with trading you can have an idea of what you think will occur but you have to react and trade what actually occurs as your preference may not play out
Matt, the 50 dma on
Posted by hamvestor on 29th of Oct 2015 at 02:39 pm
Matt, the 50 dma on GDX seems so obvious as a target that it makes me think GDX either won't accommodate us by dropping down that far, or it will bust thru the 50 dma and head down further.
i belive the BPGDM thing is giving a sell signal ?
Posted by tsurplus on 29th of Oct 2015 at 01:26 pm
Agree
Posted by tad51 on 29th of Oct 2015 at 03:59 pm
Agree
The Bpener thing gave a
Posted by oatdust on 29th of Oct 2015 at 02:11 pm
The Bpener thing gave a sell signal a few days ago. Thus far XLE is not cooperating.
I noticed that too!
Posted by tsurplus on 29th of Oct 2015 at 03:22 pm