GG - UPDATE
We are up around 5 dollars on this trade, I would consider moving your stop down to just above the pink line so you cannot lose on this trade.
Original writeup below....
AEM - Triangle Updated
Pretty much the same setup, with updated trendline lines.
NSU - A Gold Stock to Consider
One stock I would like to point out tonight is Nevsun. I don't own any of this yet, but what I want to point out here is the relative strength this stock is currently displaying vs the other gold stocks. Nevsun is at the same level it was back in Feb. When the gold stocks do reverse trend, Nevsun will probably be the first one out of the gate to breakout. Plus it currently pays a 3% dividend at current prices.
XAU - A Quick Glance
Just like I expected, the gold stocks are now testing out their lows. I haven't seen any indication that this decline is overwith just yet. If you are short I would continue to hold. A breakout above the 112 area would indicate a reversal in the current trend. I would like to see some wide price spread as well as more than just 1-2 days of an upmove to get me excited.
Do I believe that the gold stocks are near a bottom? Yes I do, but with that said, in a panic sell off things can go much farther than anyone would expect.
Original write up below....
NEM - UPDATE
We are currently up around 12 dollar on this trade or around 28%. I would at the very least place your stop just above 34. Friday could have marked the end of the shorter term trend.....see chart.
Original writeup below...
ABX - Short Update
At the very least I would place stop just above the recent highs.
The original trade setup is below
GLD - Short Trade Update
So far we are up around 9 dollars on this trade. I have updated where I believe you should place your stop at this time. I have no idea if we just test the lows or if GLD will break through them, but at this point I believe we break the lows to test out the higher 120's.
Original Trade Below....
URG- Long Term Trade
This is a chart I have posted several times over the last couple months. It just wasn't ready to move. Is it now?? I have no idea but one could buy a small position as I believe this stock will be much higher over the coming years.
GLD - Short Trade Update
This is just a quick update. If you are in the trade I would consider placing your stop just above 143 area. Once it breaks 137 to the downside, I would move your stop to around 140 so you cannot lose on the trade.
Original Trade Below....