Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 Well, the 820 area broke down. Headline is "-Gold falls as dollar hits 6-month high vs euro" Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2008 Report Share Posted August 26, 2008 Precious metals - http://wallstreetexaminer.com/?p=3066 Link to comment Share on other sites More sharing options...
AgentSmith Posted August 26, 2008 Report Share Posted August 26, 2008 silver has recouped all of the AM trouncing ($13.42), gold chugging higher ($815.70). so gold:silver ratio about 60 right now. was 100 back in '91. 32 in '83. the ratio is in a 25 years box formation (bullish for gold). 1970s HL/Gold charts: http://www.jsmineset.com/cwsimages/Miscfil...gust24-Mail.pdf Link to comment Share on other sites More sharing options...
AgentSmith Posted August 26, 2008 Report Share Posted August 26, 2008 3500 in total more LMC picked up at the $4.80 area I've mentioned many times. 08/26/2008 10:15:24 Bought 3000 LMC @ 4.7999 GRS through 8.6 (finally, sheesh). sell area is around $9. edit: my new LMC target is $5.80. it should be without significant pullback (minor brief pullbacks = opp. to add). it too is a slow moving sloth but i've come to appreciate these stocks that are more predictable (easier to identify the setup) and can provide steady 5-15% gains without the soap opera risk. LMC provides plenty of diversification for my US doolars being a Canadian base-metals company w/ European operations (w/ a dash of DRC/Russia to spice it up). Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 Well, somebody showed up to buy some metals after a small break, but now looks like 830 area is providing some pigman stop sign. The goldbug Tom Obrien believes we're building a floor in the metals, with a max gain up to 870 for resistance. It'll be months of cause building to test and retest that area above to get through. Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 Materials/resource/energy stocks showing some positive today. Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 UNG nat gas up over 6% Link to comment Share on other sites More sharing options...
AgentSmith Posted August 26, 2008 Report Share Posted August 26, 2008 UNG nat gas up over 6% 683604[/snapback] Will someone tell ROYL that? A bit of RSI/price divergence in UNG. Looks like seasonally natural gas can bottom anytime here - could have a touch more to go but risk/reward for me is buy buy (after already being cut nearly in half and hurricane season). The historic chart of natural gas reminds me of NGD, just noticed. Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 It's nice to see a reaction when you think the day before that there was some demand in the 820 area, it breaks and then it reverses. Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 Be nice to see dollar bulls stopped at 23.90 retest on the UUP http://www.StockSharePublishing.com/ChartL..._1219767149.png Link to comment Share on other sites More sharing options...
AgentSmith Posted August 26, 2008 Report Share Posted August 26, 2008 Charmin, nice chart. My favored scenario: :) edit: hope noone objects too all the pink, i do have twin girls. Link to comment Share on other sites More sharing options...
AgentSmith Posted August 26, 2008 Report Share Posted August 26, 2008 oh fine LMC if you insist on filling your gap then just be that way. nibbling a bit more here at 4.74. this should be very brief down in this area. Link to comment Share on other sites More sharing options...
Private Skidmark Posted August 26, 2008 Report Share Posted August 26, 2008 "You are getting very sleepy." Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 My best thought now is for gold to punch through 845 by the end of the week. Obviously, the dollar would have to break lower from it's high retest and potential coming from crude and materials stocks to be supportive in the next three days. Just a tad discouraged. Link to comment Share on other sites More sharing options...
Charmin Posted August 26, 2008 Author Report Share Posted August 26, 2008 Actually, it would be nice to see today's low set as a pivot low - along with the fact that this minor pullback made a daily higher high on Dec. gold. In that case it would be good to see daily's rise up to 845 again and better the 845 for a higher high on the weekly. The break from the 860 area on the weekly looks so ominous though for resistance. Link to comment Share on other sites More sharing options...
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