Updated Hui Daily Chart - Stool Pigeons Wire Message Board

Updated Hui Daily Chart At the trendline, feeling for support Rate Topic:

#1 Guest_sigmoidoscope_*

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Post icon Posted 14 January 2004 - 03:46 PM

So far this is a typical shakeout of the gold miners, with the price of gold maintaining a relatively stable position.

If gold holds over 410, and the miners can hold above 220, this looks more like a shakeout that a confirmed break in trend.

I really believe the shorts are shaking out the newbies so far. We'll have to see if it turns into something else, which of course it could.

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#2 Guest_sigmoidoscope_*

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Posted 15 January 2004 - 02:20 PM

Broke that support and could be an H&S top in the works.
The H&S will not be active unless we get a daily close and a print,
and also gold has to crack 400 IMHO, but I could be wrong.

Needs to find support soon, or will be looking at that lower trendline.
If it can get back over that neckline this week it might be in good shape
to make a stand.

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#3 ApresMoi

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Posted 15 January 2004 - 03:35 PM

Sig --

Is this a double top?

Dec 2...258.60 (Intraday)...256.84 (Close)
Jan 6....258.02 (Intraday)...250.59 (Close)

Is it SIGnificant?

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#4 Guest_sigmoidoscope_*

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Posted 15 January 2004 - 03:40 PM

That's another possibility on the chart, but I am not a big believer
in double tops.

We'll have to see how things go in the next couple days. I would like to
see HUI get back over that neckline before the weekend.

By way of disclosure, I own no miners here, but am looking for a re-entry point.

The remarks of Buba, aka the DooshBank, over the weekend caused me to flee leveraged gold positions. They were getting desperate. I believe this is tied into the JPM - Bank One merger as well.

But, who can say.

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#5 Guest_sigmoidoscope_*

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Posted 16 January 2004 - 05:37 PM

Although HUI is hanging on to the neckline, it appears that without a reversal in the gold / dollar trend, that HUI will go lower before finding support.

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Stool Pigeons Wire Message Board: Updated Hui Daily Chart - Stool Pigeons Wire Message Board

Updated Hui Daily Chart At the trendline, feeling for support Rate Topic:

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