Warning: Following my trades may be hazardous to your financial health. See Disclaimer.

Wednesday, April 04, 2012

Golder Miners - NEM, EGO

Gold miners have been the first taken to the slaughter house since Operation Twist.  GLD itself has yet to see the death cross where the 50 day MA cross over the 200 day MA, but it's getting there.

NEM has lost all support.  Looks like 45 is next and then 42.

EGO is one of the few that's spared from total break-down; but given the number of times 12.84 area has been tested, it's a matter of time before it meets its creator.  Short below 12.80, but only for day trades.  I pay respect for the miners for historic reasons.

I own some GLD and CEF in my IRA account.

No comments:

Post a Comment