AI
Saturday, May 14, 2005 11:56:40 AM
REVISED ...
Zeev and Dan ... re: gold stocks and bullion
... both XAU and HUI printed new yearly lows today, not a good sign, and if the market in general goes into a swoon down, these are ripe to go down even further ... and gold itself is approaching some support in the $415/420 area. If that is breached, well, $400 and $380 are next areas of support
I must be missing something here ... and as you both know, that is typical for me ... [g]
1. I agree that XAU, HUI and gold COULD go down further, as you mentioned Zeev ... even below 390.
2. What I do not understand is if the COMPQ, SPX, INDU and NYA drop significantly by the end of June, why do gold and gold stocks not bottom and rally against that? See attached chart.
3. And might falling equities also slow down the new and growing rally in the US Dollar?
Ken Wilson
Zeev and Dan ... re: gold stocks and bullion
... both XAU and HUI printed new yearly lows today, not a good sign, and if the market in general goes into a swoon down, these are ripe to go down even further ... and gold itself is approaching some support in the $415/420 area. If that is breached, well, $400 and $380 are next areas of support
I must be missing something here ... and as you both know, that is typical for me ... [g]
1. I agree that XAU, HUI and gold COULD go down further, as you mentioned Zeev ... even below 390.
2. What I do not understand is if the COMPQ, SPX, INDU and NYA drop significantly by the end of June, why do gold and gold stocks not bottom and rally against that? See attached chart.
3. And might falling equities also slow down the new and growing rally in the US Dollar?
Ken Wilson
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