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May 16, 2006

Goldminers continue south, Tues., May 16, 2006, 11:20 AM

There was a ‘dead cat bounce' earlier today as gold prices recovered a bit, but a look at the following list shows 20 down on the morning and just seven up. Gold is up +$1.00, but the TSX goldminers index (XGD) is down -3.1 pct, and falling.

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Posted by Posted by Bill Cara on May 16, 2006 11:19:45 AM | Category: Goldminer Producers

Discourse

Thanks Bill I was just about to jump in on this. When something is significant I promised to do so.

The Gold/HUI ratio and Gold/XAU ratios are falling apart at the seams. The Bulls would say it's a great time to buy. I think caution is warranted. g034 would urge to watch for trendline breaks. Folks, even the February decline was not this ugly IMO. I don't know quite what to make of this.

(This "retirement from following markets" thing isn't going too well.) :)

Posted by: MarkM [TypeKey Profile Page] at May 16, 2006 11:33 AM [link]

hey Mark. How's the retirement? Got out of my "falling knives" position in GG yesterday after buying and then selling on the bounce. Still have some small positions and am waiting til the RSIs tell me its ok to dip the toe in again. GG is getting hammered today. Wow.

Posted by: EJStockman [TypeKey Profile Page] at May 16, 2006 11:39 AM [link]

you lawyers have quite a way with words, but at least (i) you are now hooked on markets, and (ii) you're getting all the concepts down pretty good.

You see, it's not as tough as people told you.

Posted by: Bill Cara [TypeKey Profile Page] at May 16, 2006 11:48 AM [link]

hey, is it that transparent?

Posted by: EJStockman [TypeKey Profile Page] at May 16, 2006 1:29 PM [link]