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  #10361  
Old 03-29-2011, 09:36 AM
MetalsKing MetalsKing is offline
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Originally Posted by Bruce7Trader View Post
You're not long any of the miners from the close today? I sold my VT that i added last week under 11.47 average and crossed to Yamana and also started a new holding in ELD. Dollar looking like ready to go here not breaking 76.80 is my view that the dollar goes lower now very soon to 74.20 we will see if this starts tomorrow and gold reaches for 1,500

b7t
so far miners looking weak today Bruce and could go a lot lower, dollar firm as well, I have no bets for now but I'd be careful about buyin miners or shorting the dollar - just my 2 cents.

MK
  #10362  
Old 03-29-2011, 10:57 AM
Shredmonster Shredmonster is offline
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General question - how do you or can you tell that miners are weak today ? And could go lower ?
  #10363  
Old 03-29-2011, 11:05 AM
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Numisgold Numisgold is offline
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Miners to me look more bullish than bearish. Expected pullback in GDX/GDXJ to the 18 dma. Number of HUI miners at or greater than 50 dma is still 66% and on an upleg. Expected hit this morning to slightly below yesterday's lows. The action in miners looks similar to what was occuring late last August to early September.

Have to wait until tomorrow for more POMO "heavy." TBond 2/5/7 yr auctions ending Wednesday. Suspect the last of the resistance should clear away Wed. afternoon. Then heavy POMO days next week Mon, Tues, Thursday to pump the markets again.

http://stockcharts.com/h-sc/ui?s=GDX...d=p80725782496

Numisgold

Last edited by Numisgold : 03-29-2011 at 11:33 AM.
  #10364  
Old 03-30-2011, 08:53 AM
Bruce7Trader Bruce7Trader is offline
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Smile Better volume will direct from here

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Originally Posted by MetalsKing View Post
so far miners looking weak today Bruce and could go a lot lower, dollar firm as well, I have no bets for now but I'd be careful about buyin miners or shorting the dollar - just my 2 cents.

MK
MK goodmorning will the gains hold? Seems the buying was much too easy this last few days for a gain like this i have been calling for a low since late friday and a run into the end of this week. Whats your take here is this called starting to the spring spike to 1,600? I was watching NCM and BHP last night they both put out a good show.

We still have lots of time but the USD is looking near to a plunge to 74

B7T
  #10365  
Old 03-30-2011, 09:06 AM
MetalsKing MetalsKing is offline
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Originally Posted by Bruce7Trader View Post
MK goodmorning will the gains hold? Seems the buying was much too easy this last few days for a gain like this i have been calling for a low since late friday and a run into the end of this week. Whats your take here is this called starting to the spring spike to 1,600? I was watching NCM and BHP last night they both put out a good show.

We still have lots of time but the USD is looking near to a plunge to 74

B7T
This mornings trading has me bullish gold and silver versus the recent lows. The Yen top call has been awesome, the dollar has been sideways and the recent dollar rally is not impressive up to this point.

MK
  #10366  
Old 03-30-2011, 09:23 AM
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Thumpher Thumpher is offline
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MK....you crack me up!!!! Nice Bruce....Nice!!! Is the crow a bit bland???? Any thoughts on whether this be the March 30th event that Cyclist has alluded to (inflection point)???
  #10367  
Old 03-30-2011, 11:20 AM
cswc1021 cswc1021 is offline
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It seems the gold shares do not believe the gold weakness
  #10368  
Old 03-30-2011, 11:24 AM
Goldbarer Goldbarer is offline
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Quote:
Originally Posted by MetalsKing View Post
This mornings trading has me bullish gold and silver versus the recent lows. The Yen top call has been awesome, the dollar has been sideways and the recent dollar rally is not impressive up to this point.

MK
LOL

You turn bullish and gold drops 10 bucks!
  #10369  
Old 03-30-2011, 11:28 AM
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Numisgold Numisgold is offline
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Originally Posted by cswc1021 View Post
It seems the gold shares do not believe the gold weakness
Most of the grains didn't either. They went down intially and bounced right back. Platinum initially took a plunge with gold then bounced right back like nothing happened. But an hour later the Morgue must have said hey guys, Platinum is sticking out like a sore thumb. So then down it went to cover any visible tracks. At least it appears that 5 waves down this morning are complete in gold. Gold did close that gap at $1430 from Sunday's open. It also closed the gap-up this morning in GLD. An interesting turnaround. Curiously, GSR was <38 at the low point in gold at $1412 this morning.....hmmmm. Would have expected something around 38.4 or higher.

A lot of volume in the GDX/SPY ratio. Much more than the "peak" of 4 days ago....and as high as anything seen in the past 9 months. But this can change as the day wears on. If GDX were down lower today this would already be very bearish. But it's up and for now apparently bullish. This is similar to the spikes following the August and January bottoms. Interesting also the huge GDX volume in the last 15 min yesterday, the highest in two weeks of any 15 min. period. As someone already mentioned it wasn't thrown out with the ferocity that GLD was this morning. Let's see how GDX finishes out the day. A lot of mining shares changing hands one way or the other compared to the SPY.

Numisgold

Last edited by Numisgold : 03-30-2011 at 11:55 AM.
  #10370  
Old 03-30-2011, 11:38 AM
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Silver and oil both now green over yesterday. Gold looks lonely on it's own.
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