Traders Cooperative

[ItsAllCyclical]

Tend to agree. Lots of synching today w/miners and general market. Doesn't feel like Dollar is done correcting higher as well. Euro breaking down and once starting down will probably over do it to the downside. EU banks have just as many if not more issues. We're at a point where we've hit min ABC projections so a bounce here is possible, but IT direction still looks down as you say. PM stocks should start to ignore downside in gold if 875 is going to hold. Still might be more downside ST, but shouldn't be more than 5-10%. If we correct more than 10% in the HUI ST then it's more likely imho that 875 will not hold.

I haven't decided yet if I think 875 will hold. Since I'm very heavy cash currently I'd kinda rather have another washout to present a better risk/reward IT again.