GOLD stocks gathering momentum

[explod]

Time to dust the cover of this thread.

Gold stocks about to soar, and you saw it on Bloomberg, geeez .

A coiled spring they say

could be a trap

http://www.bloomberg.com/news/2011-...-are-coiled-spring-for-rally-commodities.html

Disclosure; holding MML and NST.

We will see.

 

[mr. jeff]

The coiled spring is continuing to coil it seems, no one is overly excited in gold stocks today even with the POG move and the US markets jumping out of their skin overnight.

Could be a good time to buy, the start of a short run up ?

Or maybe everyone is smart in being wary and just selling a little into any strength?

 

[mr. jeff]

Think I will bump this thread in case anyone is interested in discussing the goldies and which opportunity they view as best at the moment.

There are some new kids on the block lately and some of them will be the next SLR and RRL, so lets find them!!

I like and am in:

PXG, SAR, PIR, NST.


RED moving well, but not in it until it convincingly moves above 1.60-1.70 level.

Other people? Bueller?

 

[Joules MM1]

Other people? Bueller?

bow-bow, chickitt-chickaaaahhhh

GOR AZM AMX

 

[mr. jeff]

bow-bow, chickitt-chickaaaahhhh

GOR AZM AMX

I didn't mention that I hold BDR as well and just added more, with their Brazil exploration which is amazing and their first announcement of drilling that I have already posted but it's coming again;

EXCEPTIONAL DRILL RESULTS
EXTEND AND CONFIRM THE DUCKHEAD OPEN PIT OREBODY
• 9 m @ 123.2 g/t gold (incl. 2 m @ 547.9 g/t gold)
• 20 m @ 56.2 g/t gold (incl. 5 m @ 206.5 g/t gold)
• 12 m @ 29.0 g/t gold (incl. 4 m @ 55.2 g/t gold)
• 14 m @ 8.7 g/t gold (incl. 7 m @ 16.3 g/t gold)
• 10 m @ 30.0 g/t gold (incl. 5 m @ 59.4 g/t gold)...

 

[Gringotts Bank]

In some ways it's slow and a bit choppy, but the up days are creating strong momentum which could lats another month, imo.

 

[Sean K]

It might be too early to call this, so I'm not. But, I've just got a feeling.

Breaking up through thick red line (resistance) a few days ago looks important and any pull back below the thin red line puts that area of previous resistance (now support) in immediate jeopardy. The candle at the bottom looks like a mid term bottom to me.

Having said that, I might be too early, as the trend from Sep last year, and continuing from Jun, is down.

Going to keep watching this closely for a potentially more significant general break up in gold equities.

 

[finicky]

I agree @kennas and well pointed out.
Something is afoot because you have a few of our majors throwing hammer candles last week (NCM, EVN, NST) and they have kicked on with higher finishes this week. NST broke 2 year support and it certainly scared me off adding with the head and shoulders looking top, yet it recovered above the neckline immediately. You have WAF making an all time weekly high today. One of the stronger looking charts for recovery imo could be SLR which pulled up on support and rallied.

 

[KevinBB]

Going to keep watching this closely for a potentially more significant general break up in gold equities.

Damn! My system is still short one Gold from last week. Not even close to going neutral or long.
KH

 

[finicky]

Don't like quoting Rick Rule (intellectual wanker) however from a free promo email today from 'the gold summit'

"Nobody does gold like us.

We have the largest known gold reserves anywhere in the world.

We’re about to overtake China as the world’s number one gold-producing nation.

And we have one of the best gold mining industries on the planet (in fact, gold investing legend Rick Rule says it’s THE best).

Back in August, Rick Rule said:

‘I would argue that if you look at Australian gold equities, particularly the mid-caps and the single asset producers, they are selling at the lowest multiple of net present value to enterprise value that I have seen in a 45-year career.
‘These companies are as statistically as cheap as they have ever been, at a point in time when I believe gold is going to go up.
‘That makes them very attractive to me.’

 

[KevinBB]

Damn! My system is still short one Gold from last week. Not even close to going neutral or long.
KH

Don't know how the short wasn't reversed with that spike a few hours ago. Still hanging in there.

KH

 

[Sean K]

Don't like quoting Rick Rule (intellectual wanker)

LOL. Havent heard that one before. I quite like Rick, but he tends to repeat his lines over and over. I suppose you get that when you’re putting yourself out there every day to chat to anyone. Quite prolific on the you tube small cap talk space.

 

[divs4ever]

i listen to a LOT of different views and opposing opinion MIGHT still move the market in a way i like ( surely you would still take advantage of a price move because X?X?X? helped make it happen )

 

[Greynomad99]

As this thread suggests, I think gold is making a resurgence and my blog this week sets out some analysis of the chart of the gold sector index (GXD). https://sharecharting.com.au/blog-example

 

[finicky]

I've already posted this gold and gold mining stocks video update from BtL finance but this recently revived thread might be more appropriate.

 

[Sean K]

I've already posted this gold and gold mining stocks video update from BtL finance but this recently revived thread might be more appropriate.

Are you signed up to his Patreon thing, finicky? I've watched most of his stuff on you tube and he seems to know what he's talking about. Tell him to post some stuff up here on ASF.

Update on the XGD and it's still looking positive. Developed a couple of minor support lines as mentioned above and just nudged through minor resistance today. Still just in the downward channel from end May. Would be nice to have a run up like the Mar-Jun period.

 

[finicky]

Yes @kennas I subscribe to his Patreon channel, I think Mullokintyre here does too - he only charges US$6 a month, which after fx conversion and int transaction fee is $8.50, not much more than a buy-me-a-cup-of-coffee charging approach. He occasionally posts on that other forum where his gold stocks comments are well rated.

 

[Sean K]

Yes @kennas I subscribe to his Patreon channel, I think Mullokintyre here does too - he only charges US$6 a month, which after fx conversion and int transaction fee is $8.50, not much more than a buy-me-a-cup-of-coffee charging approach. He occasionally posts on that other forum where his gold stocks comments are well rated.

I reckon you guys could be teaching him a thing or two.

XGD at an interesting juncture here. Looks important. Just breaking a little resistance and potentially through the downward channel and 50d sma. Need a little correction soon and support to be proven above that resistance, downward channel and above the 50d. Otherwise, still going mid-term down.

 

[Sean K]

Good discussion on PMs, gold and gold stocks from 45.00.

 

[Sean K]

XGD at an interesting juncture here. Looks important. Just breaking a little resistance and potentially through the downward channel and 50d sma. Need a little correction soon and support to be proven above that resistance, downward channel and above the 50d. Otherwise, still going mid-term down.

Currently up over 3% on the back of POG. Looks like it's broken through those channel and resistance levels. Now need some consolidation and support to be tested. Potentially entered a new phase outside of downward trend since June.