Saturday, March 29, 2008

NEW SELL SIGNAL FOR GOLD AND PRECIOUS METAL STOCKS AND FOR BROAD MARKET

You can find this chart on Joe K. Reed's stockcharts public list.

I have added VGZ and NOT.V to my watch list. These are possible takeover candidates.


WITH THIS SELL SIGNAL I EXPERIENCED ANOTHER WHIPSAW--BUT I HAVE LEARNED TO FIGHT ON THE WINNING SIDE AND THE BEARS ARE IN CONTROL.






2 comments:

The Early Bird said...

When will the price of Gold bottom?

STOCK SNIFFER said...

Thanks for the Question. I see support at $935 and 2nd support at $900. If $900 fails gold may gap down to $800. On the next upleg I think silver mining stocks will be the stars, however gold stocks and junior producers will have huge returns. Timing will depend on the Fed and the near term collapse of the broad U.S. stock and bond market. I am not smart enough to forecast the markets but I can identify trends and profit from them.