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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

The Youngins Win!

chessNwine Thu Nov 17, 2011 1:17pm EST 8 Comments

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To follow-up on this post that I wrote yesterday and many others before that, it appears as though the divergence between the senior and junior gold miners has soundly been resolved in favor of the youngins. In other words, risk appetite never truly came back on via the high beta miners, with respect to willingness to put capital to work in the gold mining sector. Note the GDXJ breaking down from the bearish rising edge, and the GDX collapsing out of that flag.

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8 comments

  1. rickybobby
    rickybobby
    November 17, 2011 at 1:20 pm

    The sell-off in gold & silver is insane. Is this a temporary correction or can i expect another 5-10% loss in the next week?!

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  2. jose mann
    jose mann
    November 17, 2011 at 1:46 pm

    chess, if GDXJ is going much lower, then I am fucked …

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  3. JewishMantis
    JewishMantis
    November 17, 2011 at 2:17 pm

    SO many indices look like we are going lower but I bought some stuff TODAY like you mentioned yesterday like IMAX and RBCN… and WNR. IMAX still looks good but RBCN is looking a little lost. still hold? (BTW, cant wait to get into the 12621. I figured Id wait until I move into new place but this may be time) I am also looking at two older favorites of mine that are looking pretty good… PNC & DAR (which is 94% inst owned)… what do you think ?

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    • jose mann
      jose mann
      November 17, 2011 at 2:29 pm

      everything is going to get crushed …

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      • JewishMantis
        JewishMantis
        November 17, 2011 at 2:50 pm

        Those types of comments make me itchy to buy things. But… im usually wrong sooo… Im buying WNR until 11. Those toight crack spreads wont affect their bottom line for now

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