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Topic: XAG; XAU; GDX (Read 503 times) previous topic - next topic

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XAG; XAU; GDX
With the first checkpoint in, XAG and XAU look pretty good with a steady track showing up in its buyback phase. XAG leading into sustaining points and XAU not. GDX through the same period is lagging and seems to suggest weakness. It's a hard call, but I would say back to 16.80 - 16.70 tracking XAG. (Strength and weakness seen here 50/50).

Re: XAG; XAU; GDX
Reply #1
A lot more strength showing in XAG and XAU developing nice spike formations. GDX looks to be following in development as well. Improvement or turn?

Re: XAG; XAU; GDX
Reply #2
At the third time around development for XAG, XAU & GDX are developing pretty well. The one thing I have noticed is that at the first two checkpoints GDX lagged behind XAG and XAU in timing. This time all three are in step. I see that as being significant in itself. It's probably a pretty good bet the double-bottom has formed and Thursday and Friday look favorable at this point. IMO. I am noting hesitation in GDX and XAU,  XAG is building back nice and steady at this time, silver is definitely the better side of the coin today.  We'll see how it plays from here. GL all.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: XAG; XAU; GDX
Reply #3
This is not at all what i would have expected breaking 1200 the wrong way for dow 20K but when better to bottom gold than today?
Right?
I would also have expected a 20% drop in JNUG and NUGT
Are there more main st. silver bugs waiting to buy or going to get scared and sell?  my GUESS is there are more buyer lower than sellers.
look at the PA in EXK in the chart i posted just side ways. no dip to buy.
I watch gold chat a lot there are very few buyers a ton of bears,
China is on Holiday for like 2 weeks, NY does not want china adding fuel to the flash fire about to happen when the shorts get squeezed between 1225 and 1250 when 1250 goes look out above. Spike huge above 1300, OK to shart (that was a typo but i'll leave it because it fits so well) there if you have a good plan.
All of  which would have to be planned out now completely with stops and targets and stop hunt prevention and a lot of other things i don't know.
If we do what i think we may there will be signals that is is approaching, anyone want to help make a plan now for then?
For Entertainment Purposes Only.

Re: XAG; XAU; GDX
Reply #4
It has really been some kind of day and I'm not complaining. Gold continues to be resilient maintaining pressure at 1212.00 -1213.00. GDX is near its day high, however we are at the end of a cycle and a downturn is due. The next slump will be critical in regards to continued upward performance at day end and into tomorrow or whether gold slides back for a short time. It's really 50/50 as I'm seeing it.

Re: XAG; XAU; GDX
Reply #5
The earliest turn from the slump has come in on GDX which displays a steady track on its buyback leading into a spike where one should be. XAU is slow in turning around but in relation to GDX's performance looks like it should hold around 1212.00 & 1213.00 until it catches up with what GDX is displaying. Silver is established and I don't think what it's doing really matters that much. At this late in the day point I'd say that straight-through continued performance is likley to be the case.

  • Erich
  • [*][*][*][*]
Re: XAG; XAU; GDX
Reply #6
Very good buy volume at close on GDX. Also closed at high of the day. I like it!
lets see if we get carry over tomorrow. Picked up a half position of MUX today. I missed the 1.52 on UEC.
Maybe tomorrow.
ER

Re: XAG; XAU; GDX
Reply #7
Strange behavior Thursday and Friday of last week. I wanted to review the relationship history between silver, gold and the GDX. I find this recent performance is almost unprecedented with the GDX moving against advances in silver and gold. There have been close similarities in the history of the GDX. This is chart #1 in that review. The blue lines used at the 2/11/08 point are just to provide an easier read being that it very close to an earlier period. The red lines at the bottom are just lines that spot what looks like a double-bar consolidation phase that the GDX is experiencing at the moment. Not important in this chart. I just forgot to remove them.

Re: XAG; XAU; GDX
Reply #8
Chart #2

Re: XAG; XAU; GDX
Reply #9
Could you elaborate on what you mean by end game in the comment balloon on the last post? thanks

Re: XAG; XAU; GDX
Reply #10
I'll try Sandy. Mostly what is being shown in the charts between the specific periods is horizontal movement with some internal volatility. The two periods I flagged are extensions of an advance already in play. A break up in that phase results in high momentum for what appears to be about a month in duration after which we see a pullback that levels out for a long time. If it should follow through with a momentum drive for the next month I would say the overall improvement for gold, silver would be over with more horizontal action than up or down action for the sector if it holds to the performance patterns the charts display. A leveling out for the sector. Hope that helps.

Re: XAG; XAU; GDX
Reply #11
Reply to post 10. It does help, many thanks for the insight.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: XAG; XAU; GDX
Reply #12
I'm glad you posted this, as I was thinking about why the miners are not moving.
I will post the chart i drew under the gold standard topic as it is directly related to the post there too.
For Entertainment Purposes Only.

Re: XAG; XAU; GDX
Reply #13
On this note I did want to ask if anyone knows why we lost trading data between 5 & 6 P.M. last Wednesday? The night before this peculiarity began.

Re: XAG; XAU; GDX
Reply #14
Relative weakness in the mining complex over the short-term is to be expected, due to the relative strength that the miners had shown over the previous two months.


I hope the screen shot uploads and you can see the detail.