simmitrades
05-20-2009, 11:57 PM
After a long half year journey to italy, im back, and am trading the markets again. For those who don't know me I use to be an active member in the chat room. This summer I unfortunately wont be in again till the beginning of september (dad has me selling medical software).
Any ways I will now be making post more often.
This is what I see setting up in the Gold Sector. Recently the dollar has been going down against all other currencies (gold for the price of gold) and also if there is a market turn around at some point, investors will be looking for a safer place to put money.
Today we had a rally across most gold companies with large volume.
GLD-158% of Average Daily Volume
NEM-115%
IAG-176%
ABX-149%
GG-158%
ANV-124%
NGD-283%
GRS-152%
Gold-251%
As we all know volume proceeds price.
We had a large move in all of the large cap gold stocks in the past few trading sessions. But as i see in the charts the smaller cap companies such as ANV (favorite) NGD GRS are setting up for moves of there own.
Right now were are in a period where the market is assessing fair value of these companies or an area of congestion.
Looking for the market to build on some volume here and send these stocks to breakout.
Just my two cents.
Any ways I will now be making post more often.
This is what I see setting up in the Gold Sector. Recently the dollar has been going down against all other currencies (gold for the price of gold) and also if there is a market turn around at some point, investors will be looking for a safer place to put money.
Today we had a rally across most gold companies with large volume.
GLD-158% of Average Daily Volume
NEM-115%
IAG-176%
ABX-149%
GG-158%
ANV-124%
NGD-283%
GRS-152%
Gold-251%
As we all know volume proceeds price.
We had a large move in all of the large cap gold stocks in the past few trading sessions. But as i see in the charts the smaller cap companies such as ANV (favorite) NGD GRS are setting up for moves of there own.
Right now were are in a period where the market is assessing fair value of these companies or an area of congestion.
Looking for the market to build on some volume here and send these stocks to breakout.
Just my two cents.