InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Gold Stands Out With Blood In The Street 0 comments
    Apr 10, 2012 3:57 PM | about stocks: GLD, NG, SA, AUY

    This afternoon, almost every major stock market index is trading lower on the session. Traders and investors are experiencing a very rare broad based decline. The one sector that is showing strength today is gold and the gold mining stocks. The SPDR Gold Trust (NYSEARCA:GLD) is actually trading higher by $1.88 to $161.25 a share. It is very important to note that gold has been weak since February 28, 2012 when it traded as high as $174.00 a share. Despite today's rally in gold the precious metal is still in a weak technical position on the daily charts. The catalyst for the rally in gold is simply due to more chatter that the Federal Reserve will now consider implementing another quantitative easing program after today's stock market decline.

    Gold mining stocks are also rallying higher today. These stocks have been extremely weak as of late. Leading gold mining stocks such as NovaGold Resources Inc (NYSEAMEX:NG), Seabridge Gold, Inc (NYSE:SA), and Yamana Gold Inc. (NYSE:USA) (NYSE:AUY) are all trading higher this afternoon. Please understand, all of these stocks are still in a weak technical position on the daily charts.

    Nicholas Santiago
    InTheMoneyStocks.com

    Stocks: GLD, NG, SA, AUY
Back To InTheMoneyStocks.com'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

  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart.... http://bit.ly/YelpChart
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock. http://bit.ly/WMTAlert
    Apr 10, 2015
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.