Goldtent TA Paradise

HUI

1. EagleSeagle says:

   September 29, 2015 - 4:35 pm at 4:35 pm

   I am beginning to agree with this scenario. Internal momentum is growing. However, I remain flat EOD.

2. shortstack says:

   September 29, 2015 - 5:36 pm at 5:36 pm

   http://charts.dacharts.net/2015-09-29/d1061.png

   this chart shows how the topping pattern usually occurs on gdx/gdxj… first there is a shallow uptrend channel which usually develops after a fast rise.. then it changes to a shallow downtrend channel.. before a sharp decline….. this pattern is missing from the current pattern… not that patterns cant change.. but present pattern does not fit ….. note how we had a bottom in november of last year .. it essentially rose quickly and then quickly declined again.. and then a sharp rise again.. ..the present pattern reminds me of that november bottom.. sharp rise.. sharp decline…. and now??????

3. Spock says:

   September 29, 2015 - 6:21 pm at 6:21 pm

   Mark, I agree, the chart looks promising for a possible rally. But what we actually buying….companies burdened with huge debts and unable to generate cash-flows to ever pay them back, and unable to raise equity in this market. See my post on miner systemic risk now a major concern.

   • Mark says:

     September 29, 2015 - 8:35 pm at 8:35 pm

     I think the whole structural and financial health story of a stock or index is baked into the charts. If the chart falls apart it’s telling us there is a problem under the hood. But if it’s surprisingly acting better than the fundamental story would lead you to believe, that is something we should be listening too as well in the charts. I don’t buy into the story of gold….up or down….I could care less if gold represents real money or if it rises and falls based on whether people stop trusting government; these are all just charts to me and I don’t even need to know what they do….I only care about how their price behaves on a sheet of graph paper and I look for good risk/reward entries and exists. I like trading in the PM sector only because I’ve gotten to know the charts and patterns pretty well compared to other markets.

4. Plunger says:

   September 29, 2015 - 7:33 pm at 7:33 pm

   I agree with Spock. These companies are dead ducks, with few exceptions (AEM for instance) I thought it too was die a rally, but it just sits there and grinds around. That is indicative of pre-crash liquidation. Gold moved up a bit but the stocks just can’t respond so one must ask what is the catalyst? I don’t see one. Check out this sickly chart:

   http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=4&dy=20&id=p39786549576&a=400097494

   • Mark says:

     September 29, 2015 - 8:27 pm at 8:27 pm

     This is a great discussion and what this board is all about. From a technical purist’s view, I believe everything about the stock/commodity/index is reflected in the chart and price, including the risk of default. I’m not going to start placing asterisks next to charts that I should ignore because I think they aren’t behaving according to the fundamental story. The price divergence between GLD and the $HUI occurred on Aug 24th. In my view, that’s not because the chart’s suddenly decided to reflect a liquidity issue specific to the miners, it’s because the S&P plunged 1,000 pts that day and never recovered. Nearly all stocks, regardless of sector are correlated to the broader markets whereas gold is much less (if at all) correlated to the S&P.

5. Plunger says:

   September 29, 2015 - 8:35 pm at 8:35 pm

   I am going to put 2 charts in a new post addressing this debate