The TSX dot V, AKA the playground where players trade the most speculative Canadian resource stocks, looks good for now. Trend line broken, price above EMA 50, MACD positive and daily AROON uptrend. The major downtrend would only be broken with a rise above the down-sloping EMA's 200 and 400, however.
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The gold sector has been a complete disaster except for a few select stocks that have been PUMPED by newsletter writers. Even the "safer" seniors have been destroyed. The smartest play for this gold bull market was to park every penny in GLD and sit tight. Some of the seniors are down from 10% to 50% from their 2011 high. What a joke they have been. Either this is the biggest shakeout in the history of bull markets or the goldbugs are going to end up bankrupt. Going to be interesting to find out.
ReplyDeleteThe precious metals sector is among the most aggressively pumped markets out there. That is why I want to puke when I see the gold boosters most active at times when caution should be the word. Like last summer during the euro hysterics that drove gold unsustainably higher. That said, there are some really good winners and their status has nothing to do with pumpers. Problem is, the majority of gold stocks are low quality companies.
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