Charmin Posted April 1, 2007 Report Share Posted April 1, 2007 The HUI index was basically flat for the quarterly close. The March 5 low had a good secondary test with high close on March 14. Behind that we had a lot of supply come in on Feb. 27. It appears we may be pushing higher even if we are stuck right in the middle of last quarters high and low. On my chart a line at 350 says the pigmen have been able to hold the HUI down since July 2006 with 3 thrusts above that line that got sold off. There is coming a day when 350 will get retested as support. As of now it's a meandering resistance area. The more we absorb into the 350 area and the selling gets shallower the more we get closer to that day. Until then we know the areas that are getting bought and those that are getting sold. If we close the next quarter near 350 then I believe we will be close to seeing it break and become support. HUI http://www.StockSharePublishing.com/ChartL..._1175389001.png Link to comment Share on other sites More sharing options...
Charmin Posted April 1, 2007 Author Report Share Posted April 1, 2007 Steel XME had two fantastic quarterly closings. Unfortunetly HUI didn't tag along. http://www.StockSharePublishing.com/ChartL..._1175392250.png Link to comment Share on other sites More sharing options...
bearvest Posted April 1, 2007 Report Share Posted April 1, 2007 ARU.TO If you can trade Canadian stocks, I'm ultra-bullish on this stock. I mentioned it briefly last month, I believe. It's been beaten down. But MACD has double bullish divergence with price lows. Now it appears to have broken up out of a triple bottom barrier triangle. It put on a very bullish candlestick pattern. I'm no expert here, but it looks like 3 white knights to me. And that's wave 1. So we should see 2 more waves that are $8.00 or more in length upward following 2 corrections. Last week's rally retraced about 38%. So we may be due to correct. Assuming a counter-trend move, now, of 38 to 62%, it won't fill the gap for correction # 1 or wave 2. That should leave a bullish island reversal, or a breakaway gap. Thus, I anticipate bullish patterns to form on corrections, consistent with ultimate wave 3 patterns. Right now, I'm looking for a back-test of the trendline on correction #1, which i believe will be wave 2, an abc pattern. Anywhere in the gap, or at the gap itself seems to be a reasonable point of entry. The gap is huge, running from 26.39 to 27.66. If wave 1 was 8 points and assuming that the next 2 impulses will be at least 8 points each, we should ultimately reach the measured move of a full retracement to $43.00 or exceed it. Link to comment Share on other sites More sharing options...
Charmin Posted April 1, 2007 Author Report Share Posted April 1, 2007 Sy Harding comments: "Although gold bullion is up, the XAU Index of Gold Mining Stocks, which usually leads the bullion in both directions, is down 3.5% for the year so far." http://www.streetsmartreport.com/comm3.html Link to comment Share on other sites More sharing options...
anjing bau Posted April 1, 2007 Report Share Posted April 1, 2007 the Decennial pattern. The 7 th year provides a great entry point later in the year. Sometimes the buy point is pushed out into the first Q of the 8 th year. This year is looking good for a late year low in the markets. the move off the March 2003 lows is statistically long in the tooth in terms of duration and in price appreciation. They are now beginning the process of a correction of that entire move. Historical analysis of corrections suggests anywhere from 3 -18 months as the time frame for the correction to play out. place your bets....the croupier is waiting. Link to comment Share on other sites More sharing options...
hedonicprocto Posted April 2, 2007 Report Share Posted April 2, 2007 BV; yes, ARU is a bucking bronco: shook me off a while back. Hope your scenario lets me back on her Link to comment Share on other sites More sharing options...
bearvest Posted April 2, 2007 Report Share Posted April 2, 2007 Gold/Dollar: Here's one man's commentary: http://www.kitco.com/ind/Wiegand/mar292007.html Link to comment Share on other sites More sharing options...
Ander Posted April 2, 2007 Report Share Posted April 2, 2007 imo: After a short 1 week flag formation, the move up off of the march low is now continuing. Miners were very strong this morning with gold down, and now with gold rallying to a small gian they are up significantly. Link to comment Share on other sites More sharing options...
Ander Posted April 2, 2007 Report Share Posted April 2, 2007 Former laggards CDE and GSS leading the charge. Link to comment Share on other sites More sharing options...
dharma Posted April 2, 2007 Report Share Posted April 2, 2007 nak,grs, sa among others look ready to bust out. the consolidation on the hourly xau/hui also looks like it is ready to break out to the upside dharma Link to comment Share on other sites More sharing options...
Charmin Posted April 2, 2007 Author Report Share Posted April 2, 2007 AEM up off support GMO continues it's Jump over resistance and moving higher Link to comment Share on other sites More sharing options...
Charmin Posted April 2, 2007 Author Report Share Posted April 2, 2007 If we really start to move here, then just maybe somebody knows the dollar is toast. FXI china needs to fill gap and power up through resistive areas. http://www.StockSharePublishing.com/ChartL..._1175542981.png Euro FXE sitting at resistance http://www.StockSharePublishing.com/ChartL..._1175543099.png Link to comment Share on other sites More sharing options...
Charmin Posted April 2, 2007 Author Report Share Posted April 2, 2007 Look at AEM on friday with the increase in volume and today no follow through to the downside. Today demand is in control even though Friday the sellers were still in control and possible exhausted themselves. Link to comment Share on other sites More sharing options...
Ageka Posted April 3, 2007 Report Share Posted April 3, 2007 As if we needed sevenreasons for gold to go up http://www.fin24.co.za/articles/economy/di...1518-25_2092808 Link to comment Share on other sites More sharing options...
hedonicprocto Posted April 3, 2007 Report Share Posted April 3, 2007 BV: you still holding out for one more low here? Volumes are not all that stellar certainly... but sentiment seems OK for a bullish move here... Gold/Dollar: Here's one man's commentary: http://www.kitco.com/ind/Wiegand/mar292007.html 572830[/snapback] Link to comment Share on other sites More sharing options...
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