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Here is a post from someone else on another board about PMU
Added to my portfolio today with $XAU bouncing off a 6 month trendline and 101, also initiated some calls on some way oversold (imho) stocks including GG, KGC, HL. Watch PMU now that KGC has dumped their 17 mil shares (in the Canadian market) as it may continue to weaken with that much new stock in circulation now, but mid .80's could be the buy point. I do have an itchy trigger finger and will lighten my portfolio on any close below 101 on the $XAU accompanied by volume. At this point, light volume down days are buying opportunities. Good luck to all.
For what it's worth.....
Myst, based on your current MarketEye commentary 100 XAU is the magic number.. Am I correct in my analysis?
Another money maker in a downtrend:
I just watched the flick too... the extended version will be even better...
Hey Evo, I am thinking the same thing.. but the stop has to be a break of 100 on the XAU. The thing that makes me nerveous about buying support on the XAU without bullish indicator confirmation is it's ability to drop like a rock if the support level is broken. This is the spot to buy if you are looking for "High Risk" plays, more conservative traders should wait until they see bullish indicator crosses before adding. The last few down days have hit bottom about mid-day and then headed higher so right now seems to be about as low as we go today if the pattern is continuing. That does not mean that we are at the bottom, just an intraday bottom.
Hey Murray, I have a couple small long positions and when the XAU closed up I said "safe for another day" because I was happy the XAU did not go down. I was not making any forecast when I made that comment.
Elliott Wave and your Max Pain chart are both calling the 100 mark on the XAU. If this number is breached I am closing my few small positions and waiting things out until my other system says it's time to buy again. I am looking for support in the 102 area, and if this holds it's possible that the current Elliott count is correct and wave 5 will play out before a larger drop in the index occurs. If 100 is breached then the count will change and a corrective wave will be on the charts with more downside.
I like to chat on the message boards but you can see exactly what I am doing at my web site. I even enjoy speculation but I can't make any money doing it.. hahahhaha
Hope you have a good holliday...
By the way.. today stunk.. and I do think that we drop to the 102 range for sure... But don't play on my guesses, you will go broke. :o)
So true !!!! heheheh EOM.
Hey Ken, I will close any long gold stocks if the XAU drops below 100.
I am sure the news will affect the market but capturing Sadam does not change the economic situation.
Anytime Ken. :o) EOM
I have nothing bad to say about John, I can not comprehend how he manages to go through and TA so many charts every day it amazes me. I like his work but to play his system you need a lot of cash, if you don't trade the same way your back to picking a few stocks he has TA'd and hope they are the ones that move. He does have some good choices to choose from although most of them are too pricey for me.
I sure have Kedew, I had been following John's work on the gold market but have not been there in a while. I started buying WHT and a few others over the last two days and have more X-Dev buys ready for today. I may not get them filled as the bounce looks to be underway.
$XAU is getting close to a buy signal... If everything goes well tomorrow I may test the waters again.
Turned out to be more consolidation... :o(
Hey Evo, I update them every day and you can see them here:
http://www.vestoranalytics.com/secure/v2goldminer.php
Just sign-up for the free membership. The page also includes professional Elliott Wave of the XAU in 3 time frames from www.wavespeak.com
Looks like consolidation has begun.
Goooo X-Dev!!!!!!
X-Dev even has it's own cheerleading squad...
I think I fixed it. It was the message board code screwing it up.
Best Buy had lines wrapped around the stores... $65.00 share on the way.
I hope a surge in the majors today pushes gold down.. I want to buy some...
Check this article out:
http://www.internationalspeculator.com/articles/index.html
Gold worth $700 per oz. Find out why:
http://goldmoney.com/en/commentary.php#current
I can't wait for a pullback...
CGHI -- No long play... and no short play.
Definately overbought but the XAU still has the indications of more upside so the play would be to buy the dips until the XAU changes it's mood. Notice how price is negatively divergent with volume, a sure sign the stock will pull back soon. Also confirming this is MACD hitting the ceiling. I'm not sure if this stock can even be shorted? Is it a pink sheet? My model has not even met it's first requirement for shorting anything, so I would watch for a pull back in the XAU and then see where this one stands. Looks like it could be a nice long play in the near future.
Sure will... Here is the list of stocks I just went flat on:
WHT
GSS
CBJ
NXG
RIC
BGO
CAU
EGO
CDE
KRY
Oh yea.. since the XAU is gold and silver you will find the occasional silver stock in the mix.
I am using two models to trade the XAU. The second model uses a cost averaging method and is designed for longer term consistent growth although I have used it for swing trades and shorter term moves. On any healthy pullback in the XAU I will start adding partial positions to these 10 stocks using the cost averaging method:
WHT
NXG
CBJ
AGT
CDE
BGO
CAU
GRS
WTZ
EGO