.....A Cautionary Note Regarding GDX/HUI/XAU
If reliable gold/silver sector Newmont Mining (NEM, http://stockcharts.com/charts/gallery.html?nem) doesn't soon (today or tomorrow) fill today's very large upside gap at 41.71, see http://finance.yahoo.com/q/ta?s=nem&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=, it'll be a very large very bearish breakaway type gap, and, GDX/HUI/XAU's big short term Wave 5 upcycle since 1-15-09, and, their Wave 1 minor intermediate term upcycle since late October 2008, will have probably peaked on Monday 1-26-09, see http://stockcharts.com/charts/gallery.html?%24hui.
GDX/HUI/XAU have done an up down up down pattern on the daily chart since 1-15-09, see http://stockcharts.com/charts/gallery.html?%24hui, so, normally 1-26-09's cycle high would be a Wave 3 cycle high, not a final Wave 5 cycle high.
The reliable gold/silver sector Newmont Mining (NEM) Lead Indicator is extremely bearish today 1-28-09 and recently, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=on&z=m&q=l&p=&a=&c=%5Ehui,nem, so, if there's going to be the third huge Wave 5 spike move that normally would occur, the NEM Lead Indicator should turn very bullish today or tomorrow, and, NEM needs to fill today's upside gap at 41.71 quickly/today or tomorrow.
Between reliable gold/silver sector lead indicator NEM's very large very bearish breakaway upside gap at 41.71 from today 1-28's open, and, the extremely bearish NEM Lead Indicator today 1-28-09, one has to be cautious regarding the gold/silver sector right now. A positive note is that big money (some is short covering obviously) is coming into NEM, with 6.18 million shares traded at 11:51 am. Stay tuned.
GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24xau) hit a 5% follow through major buy signal on Wednesday 12-10-08 (see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html), breaking the multi month Wave 2 Cyclical Bear Market downtrend line since mid March 2008 by more than 5%, see HUI at http://finance.yahoo.com/q/ta?s=%5EHUI&t=6m&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=, and, see the XAU at http://finance.yahoo.com/q/ta?s=%5Exau&t=6m&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, which means that they very likely entered a Wave 3 Cyclical Bull Market in late October 2008. Note that HUI has a very bullish triple bottom in late October 2008. Trade the Cycles is now obviously on a buy signal for GDX/HUI/XAU.
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
I made nearly 9.50 cents per share = nearly $95 per 1000 shares traded, in a 48 second (yes) DUG (UltraShort Oil and gas ETF) trade early today (25,000 shares x 0.095 = $2375).
.......http://www.JoeFRocks.com/
NEM XAU HUI
GDX/HUI/XAU have done an up down up down pattern on the daily chart since 1-15-09, see http://stockcharts.com/charts/gallery.html?%24hui, so, normally 1-26-09's cycle high would be a Wave 3 cycle high, not a final Wave 5 cycle high.
The reliable gold/silver sector Newmont Mining (NEM) Lead Indicator is extremely bearish today 1-28-09 and recently, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=on&z=m&q=l&p=&a=&c=%5Ehui,nem, so, if there's going to be the third huge Wave 5 spike move that normally would occur, the NEM Lead Indicator should turn very bullish today or tomorrow, and, NEM needs to fill today's upside gap at 41.71 quickly/today or tomorrow.
Between reliable gold/silver sector lead indicator NEM's very large very bearish breakaway upside gap at 41.71 from today 1-28's open, and, the extremely bearish NEM Lead Indicator today 1-28-09, one has to be cautious regarding the gold/silver sector right now. A positive note is that big money (some is short covering obviously) is coming into NEM, with 6.18 million shares traded at 11:51 am. Stay tuned.
GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24xau) hit a 5% follow through major buy signal on Wednesday 12-10-08 (see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html), breaking the multi month Wave 2 Cyclical Bear Market downtrend line since mid March 2008 by more than 5%, see HUI at http://finance.yahoo.com/q/ta?s=%5EHUI&t=6m&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=, and, see the XAU at http://finance.yahoo.com/q/ta?s=%5Exau&t=6m&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, which means that they very likely entered a Wave 3 Cyclical Bull Market in late October 2008. Note that HUI has a very bullish triple bottom in late October 2008. Trade the Cycles is now obviously on a buy signal for GDX/HUI/XAU.
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
I made nearly 9.50 cents per share = nearly $95 per 1000 shares traded, in a 48 second (yes) DUG (UltraShort Oil and gas ETF) trade early today (25,000 shares x 0.095 = $2375).
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: DUG, GDX, Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
8:28 AM
1 Comments:
It obviously looks like NEM won't fill today 1-28-09's upside gap at 41.71 any time soon, so, it's probably a very large very bearish breakaway type gap, and, GDX/HUI/XAU/the sector has probably entered a Wave 2 minor intermediate term downcycle, that should last roughly a month.
By
Joe Ferrazzano, at 12:02 PM
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