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Topic: June (XAG, USDJPY, XAU, GDX, GDXJ) (Read 881 times) previous topic - next topic

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Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #75
The Yen is struggling against its 5 day MA, but I still see greater strength in the GDX than the Yen at this time. I'm watching for weakness in the GDX and then I will likely pull out to the sidelines. If it looks good for a bullish play through I will likely jump back in.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #76

Moving avgs and trend lines

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #77
oops! Tried again...


5 day = Red
10 day = yellow
20 = green

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #78
A real slowdown in the GDX over the last hour. Equal performance between the GDX and the Yen. Sold my positions and on the sidelines. That's not to say there couldn't be more to come, at the time of this writing the GDX looks to be trying to pick up again. GL.

  • Erich
  • [*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #79
looks like gold is fading. Short  3k shares of EXK @ 2.98

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #80
looks like gold is fading. Short  3k shares of EXK @ 2.98
Yes and the Yen is developing a hammer on the daily chart

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #81
I'm seeing a lot of spike development in the Yen since 1:00 P.M. and not much in the GDX for the same phase. With one negative showing up against the Yen suggesting further weakening for the near future, I'm guessing the Yen is likely to strengthen and retest its most recent high of 111.78 at which point the bottom COULD drop out bringing it down significantly.

  • Erich
  • [*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #82
I'm seeing a lot of spike development in the Yen since 1:00 P.M. and not much in the GDX for the same phase. With one negative showing up against the Yen suggesting further weakening for the near future, I'm guessing the Yen is likely to strengthen and retest its most recent high of 111.78 at which  point the bottom COULD drop out bringing it down significantly.
Covered all EXK cant fight the tape

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #83
I'm seeing a lot of spike development in the Yen since 1:00 P.M. and not much in the GDX for the same phase. With one negative showing up against the Yen suggesting further weakening for the near future, I'm guessing the Yen is likely to strengthen and retest its most recent high of 111.78 at which  point the bottom COULD drop out bringing it down significantly.
Covered all EXK cant fight the tape

Good move covering the short, up a couple % this morning. I had a quick look at this company's presentation on their web site and think they have a pretty good story to tell wrt profitable production and reserve growth. It might be a good long term buy. I have it on my list for more DD.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #84
I wrote July $5.50 calls on my entire position for $0.15, not a huge return but at least positive. The chart looks great for the past 6 weeks or so, but I think the response to recent new mine potential was overblown, management does not have a good track record, and they may dilute to finance the mine development.




Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #85
I have been one who has bashed IAG management and regretted holding a losing position that I have tried to salvage writing options hoping it would be called for a small gain. Looking at the chart gives me some second thoughts as the stock has performed very well since the lows of 19 months ago and chart patterns suggest price action may make a positive move in the short term. Bollinger Bands being at very low spreads indicates a move is coming, but not direction. MACD is showing signs of improving and may show a bull histogram any day. RSI was indicated oversold last May but has an improved trace since then standing just under 60 at this posting. Since last March, the stock is up nearly 50%. While it looks good to me, I am still planning to write another monthly call contract if not called at $5.50 this week, just do not trust management.



Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #86
I have been one who has bashed IAG management and regretted holding a losing position that I have tried to salvage writing options hoping it would be called for a small gain. Looking at the chart gives me some second thoughts as the stock has performed very well since the lows of 19 months ago and chart patterns suggest price action may make a positive move in the short term. Bollinger Bands being at very low spreads indicates a move is coming, but not direction. MACD is showing signs of improving and may show a bull histogram any day. RSI was indicated oversold last May but has an improved trace since then standing just under 60 at this posting. Since last March, the stock is up nearly 50%. While it looks good to me, I am still planning to write another monthly call contract if not called at $5.50 this week, just do not trust management.

As much as IAG is mistrusted and hated here, it always appears to be a front runner and a favorite among investors to me. It looking like IAG will run and likely try to get back to it's last highest high point, especially with the sector on the move IMO.




  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #87