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Post by huh on Apr 23, 2014 13:22:20 GMT -5
Look at those gold miners run. Imagine if Gold were positive on the day. Wow! GDX & GDXJ both filling their gaps left from 04/14. Could see a couple more percent upside to backtest their bear flags, but with Gold sitting still, I wouldn't be chasing them here. JMHO Here's a chart of only GDX, but GDXJ looks almost identical. Both have ~1.5-2% more upside if the bear flag is backtested.
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Post by novie08 on Apr 23, 2014 13:34:20 GMT -5
Look at those gold miners run. Imagine if Gold were positive on the day. Wow! Gold holding support at 1280 as Clinton suggested. Opex is Monday, we'll see if it holds then. But as long as the miners are positive, who cares? CNL. doing well Jack! HUI +2.7% and XAU +2.66%. It looks as though there's some BIG BOY accumulation?
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Post by huh on Apr 23, 2014 15:10:32 GMT -5
Look at those gold miners run. Imagine if Gold were positive on the day. Wow! Gold holding support at 1280 as Clinton suggested. Opex is Monday, we'll see if it holds then. But as long as the miners are positive, who cares? CNL. doing well Jack! HUI +2.7% and XAU +2.66%. It looks as though there's some BIG BOY accumulation? I can only shake my head.
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Post by novie08 on Apr 25, 2014 9:33:35 GMT -5
Sold all of my PPP this morning...took awhile...just don't like the debt they took on from Brigus buy...had held since May, Aug. & Sept. 2012. Meant to sell last week, been so busy wasn't paying enough attention. Still +62% avg. Liking other miners better, CNL for one.
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Post by clinton on Apr 25, 2014 11:03:04 GMT -5
bullish divergence on GORO obv Attachments:
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Post by dino on Apr 25, 2014 14:28:10 GMT -5
Gold futures have a nicely formed descending wedge going on. The iH&S is still in play as well.
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Post by jacksrbtr on Apr 25, 2014 17:06:18 GMT -5
Gold futures have a nicely formed descending wedge going on. The iH&S is still in play as well. View AttachmentLizzie Borden was also a big fan of descending wedges...
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Post by novie08 on Apr 25, 2014 18:20:17 GMT -5
Be aware that Monday is PM opex day...know I've said this before but it bears repeating. Definitely could be some s-t down.
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Post by novie08 on Apr 28, 2014 8:25:48 GMT -5
Be aware that Monday is PM opex day...know I've said this before but it bears repeating. Definitely could be some s-t down. See? Mini flash crash just now before the open.
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Post by clinton on Apr 28, 2014 9:22:27 GMT -5
Be aware that Monday is PM opex day...know I've said this before but it bears repeating. Definitely could be some s-t down. See? Mini flash crash just now before the open. there's your gold flush
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Post by novie08 on Apr 28, 2014 12:53:32 GMT -5
Nice recovery but isn't helping the miners...only one on my watchlist that's green is exk.
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Post by jacksrbtr on Apr 28, 2014 20:13:48 GMT -5
Nice recovery but isn't helping the miners...only one on my watchlist that's green is exk. The Barrick-Newmont deal fell thru. Miners are on high alert for possible downside (see forming bear flag on the GDX's daily). Craps.
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Post by huh on Apr 29, 2014 7:50:06 GMT -5
SLV Close under 18.60 today would set-up downside targets ~14.10 & 12.25. ( notice I said nothing of miners )
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Post by huh on Apr 29, 2014 8:10:04 GMT -5
I wouldn't short SLV right here - only something to keep an eye on next couple days if that support were to fail.
There's also a good possibility of a strong dead cat bounce in the very near term for a gap fill & backtest of a smaller bear flag.
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Post by novie08 on Apr 29, 2014 12:59:11 GMT -5
Another weird day in the PMs, spot down and miners up. Miners are leveraged. NUGT +3.5% and XAU +1.4%. Hmmm.
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Post by jacksrbtr on Apr 29, 2014 13:16:07 GMT -5
Another weird day in the PMs, spot down and miners up. Miners are leveraged. NUGT +3.5% and XAU +1.4%. Hmmm. Continental on its Buritica property had 4 fatalities from an artisanal mine cave-in last friday. These are local (and NOT associated with Continental's operation) miners Continental lets scratch out an existance on their strike. The company has won recognition for this practice, but I'm not so sure its a good thing if mine safety is jeopardized in the process...shame that 4 souls were lost.
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Post by novie08 on Apr 29, 2014 13:44:30 GMT -5
Another weird day in the PMs, spot down and miners up. Miners are leveraged. NUGT +3.5% and XAU +1.4%. Hmmm. Continental on its Buritica property had 4 fatalities from an artisanal mine cave-in last friday. These are local (and NOT associated with Continental's operation) miners Continental lets scratch out an existance on their strike. The company has won recognition for this practice, but I'm not so sure its a good thing if mine safety is jeopardized in the process...shame that 4 souls were lost. So sorry that happened. It's a dangerous business but not nearly as awful as it used to be when they had to go underground by candlelight! Can you imagine?
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Post by jacksrbtr on Apr 29, 2014 14:27:31 GMT -5
Yah...ANY mining op is dangerous. At the Bureau of Mines Bruceton, PA site outside of Pgh, where I used to work for the Energy Dept, you'd hear controlled explosions of coal dust every once in awhile. Coal dust is EXTREMELY explosive due to the surface to air ratio or something like that - same problem grain silos have: BOOM!
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Post by jacksrbtr on Apr 29, 2014 14:35:12 GMT -5
Gold: CME considers price limits; Deutsche resigns from fix panel • 3:29 PM
CME Group has price fluctuation limits for many of its futures contracts, but none for its precious metals and base metals products. Concerned over investor-appetite-curbing volatility, the exchange operator is looking into daily limits.
In other news, Deutsche Bank resigns from the panel which sets the daily gold and silver benchmarks in London after failing to find a buyer for its seat. The bank's last day to take part in the fixing - which has come under scrutiny for manipulation - will be May 13.
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Post by huh on Apr 30, 2014 8:47:51 GMT -5
GDX support sits at 23.89 over the next few days. Resistance 24.50. Well defined consolidation range over the last week.
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