Gary Tanashian's  Instablog

Gary Tanashian
Send Message
Gary Tanashian is proprietor of NFTRH.com and Biiwii.com. Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' (http://nftrh.com/nftrh-premium/). Complimentary analysis and commentary is available at the... More
My company:
Notes from the rabbit hole
My blog:
Notes From the Rabbit Hole
  • A Chart Making The Rounds Says 'Why Buy Gold Stocks?' 0 comments
    Aug 3, 2012 10:48 AM | about stocks: GLD, IAU, GDX, GDXJ

    According to this chart, the XAU-Au ratio has made a lower low to the 2008 low and thus has massive resistance above.

    Okay, but in the spirit of truth in advertising, maybe an area chart is not the best way to go as it does not show the actual low to which the ratio declined in 2008.

    A monthly candlestick chart shows the situation we have been operating to for many - too many - months now, since the the nominal gold stock indexes broke down from a bear flag and lost support last winter/spring.

    See? No loss of support and no reason for hysterics as a long as the higher low is in place.

    http://www.biiwii.blogspot.com
    http://www.biiwii.com/analysis.htm

    Subscribe to NFTRH or
    Subscribe to the free eLetter

    Stocks: GLD, IAU, GDX, GDXJ
Back To Gary Tanashian's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.