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fib_1618

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Reply with quote  #1 
Let's see how she runs.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

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roboman

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Reply with quote  #2 
I'm long GDXJ...

Good luck to all trading the miners.....

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=3&dy=20&id=p19581599908&a=438938473

http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=4&dy=0&id=p71583617048&a=438921071

http://stockcharts.com/h-sc/ui?s=%24HUI%3AGLD&p=D&yr=1&mn=0&dy=0&id=p94577698317&a=439320987


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kamakaze

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Reply with quote  #3 
"LQQKs Like" to me that there are WAY too many "investment" advisors and bloggers an market observers that are expecting this to be THE  bottom for gold.  Sure, whilst GDXJ is meandering around forming what  MIGHT  be a bottoming process, don't see an indication of extreme pessimism and that uptick in the AD line on the PM chart, well... could be evidence of that worrisome lack of pessimism...?
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fib_1618

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Reply with quote  #4 
Well, given the current turbulence in equities, the "go to" comment for most analysts always seems to point to gold bottoming because of the future uncertainty that goes along with it. Of course, we didn't have too much saying this at the end of December when equities were topping out and the gold was $50.00 lower at that technical buy point.

Precious metals stocks are, after all, stocks, and they will tend to move with the flow of least market resistance. So with them showing very little cumulative decay this past week, that's still a plus.

And...sometimes...fundamentalists get it right from time to time. With that said, it's only a buy signal...we still have to see "how far she runs" on whether this is an important bottom or just a passing bear market phase.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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kamakaze

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Reply with quote  #5 
Had to laugh, thinking that broken clocks also get it right from time to time....
LQQking at GDX,
The chart pattern from Nov 14 thru June 15 LQQKs a lot Like the current pattern. hmm?
(I'd be real suspicious of another run up, being just that mid-channel pause...)


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