Tuesday, May 17, 2011

Triple Bottom for Gold Stocks

Goombarh 62 - May 17, 2011
Good day,

Will someone please tell me what is going on?


Gold is down yet the HUI index and the GDX index of large gold stocks are bottoming and showing strength in possibly moving up. 

THIS SURE AS HECK LOOKS LIKE A TRIPLE BOTTOM OR A HEAD AND SHOULDERS BOTTOM.  -   THEREFORE LOOK FOR UPSIDE FOR GOOD GOLD STOCKS.

Can it be that all the bearishness is already priced into the markets?  Are the big funds accumulating Gold stocks now?  How can I make use of this information?  Is the bottom in for now?  Or is this the sell in May and go away until fall?

Disclosure:  I am holding only a select few juniors and Goldcorp warrants.

I can not make any good trading strategy, other than as previous:
·         select exploration juniors
·         good stocks at good prices (GBG & SLX)
·         best of the best gold stocks (RLGD, FNV, & GG)
·         Aggies - DAG

Until next time,
Marco G.
http://goombarhsedge.blogspot.com/

1 comment:

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    Regards:

    Commodity Market

    ReplyDelete