Tuesday, June 16, 2009
That is a WRAP. MR. NASTY = 457, GREEN LINE 511. That is a definate OOPS ! !
I think I will be using all UP-SIDE Reactions to open some SHORTS. My current shorts held over from before are Unilever and THE GAP [ UN & GPS]. Certainly tonite as I scan and filter, my emphasis will be balanced btwn Shorts and Longs, some of which might make it into the PEAK PERFORMANCE REPORT, published to that blog.
No doubt we are going to be shaken, stirred, folded, spindled and mutilated until this shakeout is finished. Should the US Dollar try to make a run for an index high of 95, it likely go hand in hand with a serious decline in US Equity markets as well as a serious surpression of the gold price. Looking forward, from partial scans of mine, I like Auzion Mines Ltd, Dennison Mines Ltd, and Richmont Mines Inc.
Also on this list was Golden Star Resources, but they have consistently been able to snatch defeat from the jaws of victory, so I have them on hold until I see some positive reinforcement from them.
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Well is it a WRAP or isnt it? Well Mr. Nasty dropped right dead thru its GREEN LINE, and seems to be sinking @ 508, below the GREEN LINE which is at 529, basically 4% below the GREEN LINE. Decisive? I'd say yes, further if the FEDS plan to save the dollar it is logical for the market to decline, which creates the seemingly odd situation of the market and gold declining together, more or less, or is it odd at all?
Basically if liquidity is a part of this play at all, it would not be all that unusual for, in this era, for the general market and gold stocks to decline hand in glove.