Loading ...$Gold Looks OK, But The Miners Need To Turn Upwards Here
I’ll let the charts speak for me
I came close to bailing out of a large chunk of my PM miners today, but I decided to wait and see what tomorrow brings. Getting a little nervous, like plenty of others no doubt.
Please don’t take this too harshly, however its my opinion that these words indicate a strategy based on hope. The market has been flashing signals quite loudly over the past week to get out. I have chronicled these over at the Rambus forum. Today it delivered the punch in the face to whoever hasn’t been listening.
Its the language of the market that is speaking here. The breakdown out of the rising triangles of late last week. The divergence of the HUI vs gold, the weird path of gold vs the USD where the USD was tracking alongside of gold. This had to change and soon.
I mentioned how this impressed me as a very dangerous backdrop. Today we saw the result.
I, for one, really appreciate your input, Plunger. I like your tell it like it is viewpoint.
So far Asia is holding. Watching London then NY 9-11am
Wholeheartedly agree Plunger. I always consider both sides of an argument and all the available evidence. You always have to respect what the market is telling you.