Day 6 and IAG shows up for oscillators banging on the lows...

"Tech Talk continues to favour the Canadian gold sector. The sector was one of the strongest on the TSX once again. Technicals for the sector continue to improve. More Canadian gold stocks on the TSX are recording positive MACD cross overs from Dover Sole levels (e.g. IAMGold)."

Watch it down to the $.5.80 area..

http://dvtechtalk.com/April/April8.htm

also...

"Tech Talk continues to favour the Canadian gold sector. Eight of the 25 gold stocks in the TSX Composite Index recorded positive MACD crossovers from a short term Dover Sole level on Friday. They were Barrick Gold, Bema Gold, Kinross, Meridian, Pan Am Silver, Placer Dome and Western Silver. In addition, Gammon Lake, another TSX Index gold stock recorded an encouraging breakout to an eight month high on higher than average volume. Nesbitt Burns released a favourable report on the stock on Friday."
http://dvtechtalk.com/April/April11.htm

I see a .618 retrace....

Gold:CRB

... and does that mean a war in 2 months ?

silver uthrust or jump the creek in the 7.20area with a high this morning in the 7.27 area

gold resistance in the 431/432 area

silver leading

Dollar up from lows of 84.07

might be selling in the 7.35 to 7.50 areas

[USU] USEC INC. GETS $200M URANIUM SUPPLY CONTRACT

watching silver for upthrust or jump of creek but not the time to buy here

waiting for pullback to 7.20 area retest from resistance areas above 7.35

If your watching.....WTZ looks to have a creek / ice area in the 9.40/9.50 areas

83.40 area on dollar is the next bigger downside area

but now we are in the 84.40 to 84 area looking for reactions

We continue to believe, several more weeks are needed to establish a "good" bottom, which appears in synch with a resumption of the Dollars decline.

Our VDI remains bullish.

Last weeks minor retreat was on the slowest volume in 14 weeks.

Look for Fibonacci Cluster Support at 91.07 level to halt the decline. Not far away with Friday's close at 92.89.
http://www.feargreed.com

I think we've seen Ike's XAU 94.50 area he was talking about for resistance
and then drop to the 85-84 zone.

the 85-84 area is the bottom of a downtrending channel he's located

XAU 94.50 down to 92

GRS going off again

GRS and KRY are the only miners worth mentioning in my portfolio. At least they are my #2 & 3 holdings.

Amazing - the miners seem to be saying no gold rally yet.

Hopefully the trade deficit numbers out tomorrow may be the catalyst for the dollar down / gold-gold stocks up scenario much needed at this juncture.

Attached chart shows the strong possibility.
Also notice that either gold is overbought here or that the gold stocks are Dover Sole - i opt for the latter - either way, we should find out very soon.


goober fully loaded and swingin fo the fence

This attached chart of the Swiss Franc agrees with my last post.

okay goobs - let's review samore currency charts -

1st chart shows inverse relationship to dollar / pound ready to rise

2nd chart shows pound and euro rise together and euro relatively undervalued

3rd chart shows euro ready to outperform pound

last chart shows gold/euro latest uptrend intact leading euro and euro turning up

Conclusion - gold uptrend that began in early Feb 05 intact - next leg up in gold/gold shares soon to commence!

goober out

I don't care how many ratio charts or whatever you care to drag out if the miners can't rally on days like this forget it short term. They bite now.

Most of you probably recall when smsc passed this way earlier this year. I just happened to take a look at his web page today...

It's worth a look again....

http://stockcharts.com/def/servlet/Favorit...et?obj=ID667551

PMs are at the bottom of long term channels.... stay tuned...

"I don't care how many ratio charts or whatever you care to drag out if the miners can't rally on days like this forget it short term. They bite now."

Just reportin the chart facts mam.

I tell yah goobers, bears are everywhere! (just the way i likes it)

Bulls, watch cher asses, cuz when them bears start running fer cover
they may take a chomp of it on their way back to hybernation.


goober out

GM go check out GE Forum and you can count the bears on one hand. Action looks terrible. If we start to run upside I may run over your back getting back in.

I think our present problem is stocks in this sector probably won't outperform the market while the overall market could just drop.....

If the SP500 drops down to 1167 area and Dow down to 10,360 area I can't imagine we don't get bit too.... but right now we are mid range from those low areas in the 1167 up to the 1190 areas.... ready to be resolved while trading in a tight range now..

watching the 431/432 area on gold and silver at 7.35

Actually, I'd like to see WTZ move sideways a bit more with no decline below the recent lows in the 8.60 area... it still has some horizontal support in the $8 area

"GM go check out GE Forum and you can count the bears on one hand. Action looks terrible. If we start to run upside I may run over your back getting back in."

TFH - when hasn't vronsky and devotees not been bullish on gold stocks? You will get kicked off from that site if you have any negative thing to say about gold. But here instead are just a couple of the sources I follow:

Attached below is a Sharefin Global Gold Producer sentiment index chart worth your perusal - can be followed over at financialsense.com (What does this history chart tell you?)

Or check out gold sentiment as measured by the CEF fund – has been hovering near 0 or slightly above for the last several months.

Or notice the Rydex PM fund asset level – it's half of its '03 peak. In fact the sentiment among small traders has gone from overly bullish to overly bearish in an extremely short time period. At the same time, big traders have accumulated shares in the sector at a very impressive rate.

What does this all mean? How about a sizeable intermediate term up-move will be the next likely major development.

Possible catalyst you ask? How about a pause followed by a reversal of the Fed's rate hike campaign after consideration of the slowing economy and the precarious housing bubble for starters. I mean isn't that what the wall street geniouses are finally coming to realize – a slow down in the second half of 2005 as forecast by some including myself here last fall?

Did you hear that bell ring? I did, you know, the one that rings loudly at the beginning of the end of the global real estate bubble.

As I said, tomorrow's trade numbers MAY matter to the dollar.

Pretty simple, dollar goes down, gold goes up, gold stocks dragged along kicking and screaming until 460 looks achievable. Then gold stocks take off. Looks like June possibly July when that gets fully underway - until then gold's uptrend remains intact and gold stocks continue to build cause.

All this just my opinion of course.

Sorry goobers but cannot edit (or quote) as I'm at a beach house using an older browser, but forgot to include the link for Sharefin's chart:

http://www.financialsense.com/metals/SLG100.htm