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IMPORTANT: Wednesday May 19, '04


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seems that noone believes that Gold is up $7 and Silver up .24 ...

 

Even the price of the miners isn't fully reflective of that gain..

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Curious that we have interest rates rising today and the buck falling. Maybe there is a change of thinking there as well.

 

Depending on what the POG does here, and the buck for that matter, the HUI looks like it could run up quite a bit. Maybe a zig zag for the next couple of weeks?

 

Anyone like AU here?

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Can't figure out what to make of palladium. Thin green is t-lines and channels, orange is two natural squares with the midpoint between them bold.

 

Move down appears to be broadening. Snagged on lower t-line and natsqr median.

 

Check out MACD - looks like a kiss wanting to happen. I'm wondering if it doesn't indeed smooch the line, drop to the 225 area on a higher MACD histogram trough, creating enough divergence to pop it to the 50dMA area (272.5 is another median).

 

If you back out big time this entire upward move looks like a correction to a larger h/s formation. If true then gaming the first time was low risk. Gaming a second time, however, may be much higher risk.

 

Open to suggestions...

 

-SOTBOT

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