Monday, May 24, 2010

ABX - Tale of Two Currencies

  • The $USD has surged on safe haven buying, but it did take a breather lasty week
  • The more "risky" $CDW has been crushed in the last several weeks.
  • Because of high currency volatility, companies dually listed on US and CAD exchanges tell a different story when charted, which makes technical analysis more difficult. 
  • One thing to note is that overall the Gold miners did suffer severe technical damage last week. The $XAU and $HUI have reversed and both are oversold. ABX has not reversed it's trend yet, but it is on the edge - the same goes for Gold.
  • Expect an oversold bounce this week, and be on alert.

Sunday, May 16, 2010

ABX Breakout on Weekly Charts is Confirmed

  • next stop is the 2008 highs ... after it breaks through the 2008 highs, the sky is the limit

Friday, May 14, 2010

Thursday, May 13, 2010

ABX Pullback Targets

Wednesday, May 12, 2010

Gold, Silver, and Miners Break Away

ilver and the miners are all breaking out with force. This would imply (hyper)inflation is being priced in (because of the EU bailout package). The miners have some catching up to do ...

Tuesday, May 11, 2010

UUP ($USD) is Surging

ABX Breaks Out on Weekly Charts

  • on a weekly closing basis, ABX has broken out and has surpassed Nov's high

Monday, May 10, 2010

Global Currency Collapse History Lessons

1998 Russian Financial Crisis
1997 Asian Financial Crisis

This time it has been the USD followed by the Euro ...

Sunday, May 9, 2010

ABX Holds During Global Sell Off

Friday, May 7, 2010

GLD Breakout on the Weekly Charts

Thursday, May 6, 2010

MFI Bearish Divergence for GLD

  • GLD is at resistance - top of the channel + previous high

Global Markets Crash - USD and Gold are surviving Asset Classes