|
PureBytes Links
Trading Reference Links
|
My reading of the charts of gold stocks researching them back over 70
years indicates that major changes in direction (at least a year) in
this group of stocks is preceeded by heavy volume at bottoms. I don't
see it here. Consequently I am skeptical that we would be having a
major reversal to the up side. I have no strong opinion on the shorter
term except to suggest that as the DOW keeps getting stronger the
counter trend rally in gold will loose the followers that are trying to
escape the DOW BEAR.
James Taylor wrote:
> For educational purposes only: Gold is testing a downtrend line
> spanning over 1 1/2 years, and will likely break thru it, sending
> prices sharply higher in the coming week. As prices have fallen in
> gold over this period, the open interest has also decreased,
> signifying that the market is strong and ready to turn around and
> advance. Gold prices have risen from $270 to over $275 during the
> last few weeks. Copper prices have risen and the stock prices of
> gold producers have also risen, foretelling of gold's likely advance
> here. Possible ways to take advantage of this move in gold:1) buy gold
> futures2) buy the stock of gold mining companies: NEM (Newmont
> Mining), ABX (Barrack Gold), HM (Homestake Mining)
>
>
> eGroups Sponsor
[Click Here!]
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
-------------------------- eGroups Sponsor -------------------------~-~>
eLerts
It's Easy. It's Fun. Best of All, it's Free!
http://click.egroups.com/1/9699/0/_/152424/_/977766377/
---------------------------------------------------------------------_->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxx
|