Short Term Look at Our Miners
Gold opened down in early NY Global and moved up a bit as Sidney opened. It is early to define a direction. We will have to see what happens when Hong Kong opens shortly.
Here is a one month look at our miners. Notice the similarity among the graph. All except DROOY and AUY have begun to establish an up trend trough. Only DROOY and AUY seem to be locking into a trading range. I have attempted to present with the black lines a trading range of sorts for each. I believe that if the prices go near the lower black line of the trading ranges, this is a good buying opportunity if you have the cash and the risk tolerance to jump in. If you do decide to act an buy some of the miners, it is not a bad idea to protect yourself will trailing stops in event you have little opportunity to watch the market activity on a consistent basis. The red trend lines show higher lows and outline upward troughs on some.
I sold some shares of HMY on Friday as the price hit my 3% trailing stop. That provides some additional cash for repurchase if the opportunity presents itself.
The purple line on HL shows short term resistance. A break above this line would be positive for HL.
We must always remind ourselves that we are not dealing with free markets, but only playing against intervention by very deep pocket manipulators. Therefore, it is wise to attempt to follow the prices they establish by buying or selling and try to establish trading ranges that hold for a while.
Gold, in early over night trading in Asia is 937.80 on a down tick and silver is 13.99 on a down tick.
I trust that each of you in obedience to King Jesus joined in corporate worship of this King. If you did not, do not expect the blessings that He gives His people who obey His commands. We must also read and meditate upon His word to know how to live a life of obedience. His words are the only rules for living a Godly life which is centered upon the Lord Jesus Christ. There is no other way to peace and great blessing!
Best to each, Doug
Here is a one month look at our miners. Notice the similarity among the graph. All except DROOY and AUY have begun to establish an up trend trough. Only DROOY and AUY seem to be locking into a trading range. I have attempted to present with the black lines a trading range of sorts for each. I believe that if the prices go near the lower black line of the trading ranges, this is a good buying opportunity if you have the cash and the risk tolerance to jump in. If you do decide to act an buy some of the miners, it is not a bad idea to protect yourself will trailing stops in event you have little opportunity to watch the market activity on a consistent basis. The red trend lines show higher lows and outline upward troughs on some.
I sold some shares of HMY on Friday as the price hit my 3% trailing stop. That provides some additional cash for repurchase if the opportunity presents itself.
The purple line on HL shows short term resistance. A break above this line would be positive for HL.
We must always remind ourselves that we are not dealing with free markets, but only playing against intervention by very deep pocket manipulators. Therefore, it is wise to attempt to follow the prices they establish by buying or selling and try to establish trading ranges that hold for a while.Gold, in early over night trading in Asia is 937.80 on a down tick and silver is 13.99 on a down tick.
I trust that each of you in obedience to King Jesus joined in corporate worship of this King. If you did not, do not expect the blessings that He gives His people who obey His commands. We must also read and meditate upon His word to know how to live a life of obedience. His words are the only rules for living a Godly life which is centered upon the Lord Jesus Christ. There is no other way to peace and great blessing!
Best to each, Doug
posted by Doug @ 6:47 PM
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