pkf
Junior Member
Posts: 52 
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Post by pkf on Sept 9, 2014 10:17:33 GMT -5
There appears to be some bottom-fishing this morning in the miners but the price action is more indicative of a dead-cat bounce. As I scan the universe of stocks, I can see the "weak sisters" among the miners having more downside while the "strong" stocks, while still in confirmed up-trends, corrective action still beckons. The conclusion is that lower prices remain on the table. I will add that a rally from current levels is most definitely possible but would require some serious upside to abort the negative short term picture.
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Post by platy on Sept 9, 2014 10:31:46 GMT -5
Important gold turn date tomorrow. Support levels 1249.5, 1244.2.
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Post by daniel on Sept 9, 2014 10:34:14 GMT -5
There appears to be some bottom-fishing this morning in the miners but the price action is more indicative of a dead-cat bounce. As I scan the universe of stocks, I can see the "weak sisters" among the miners having more downside while the "strong" stocks, while still in confirmed up-trends, corrective action still beckons. The conclusion is that lower prices remain on the table. I will add that a rally from current levels is most definitely possible but would require some serious upside to abort the negative short term picture. Agreed! |
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Post by daniel on Sept 9, 2014 10:34:30 GMT -5
Important gold turn date tomorrow. Support levels 1249.5, 1244.2. let's hope so Platy!! |
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Post by sb on Sept 9, 2014 17:05:45 GMT -5
Apparently somebody felt it was a good time to accumulate miners this afternoon. From what I've read, it's got nothing to do with the little guy trader, not only did they not buy into the recent weakness they probably wouldn't buy tomorrow just yet.
I'm not getting a chubby over today's or the last 6 months' action, but glad to see strength appear from nowhere. I feel the decline has to be met by buyers in here like me, or it's possible I'm f@#ked.
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mp
Junior Member
Posts: 77
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Post by mp on Sept 9, 2014 19:24:55 GMT -5
Gold has found a reversal candle today so a reversal tomorrow as per Platy would go hand in hand. Gold needs to keep above the June low for any chance of a breakout above 1350.
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