"It's Alive!" - Keeping Track of the $USD
posted Mar 2, 2004 at 08:38PM
The bullish cross-over on the weekly MACD is a key technical feature.
Of more interest is the potential impact on gold stocks. Many quality stocks are at critical junctures within consolidation patterns..if they break down the price action south could get hectic.
A good opportunity for those who are looking to reenter. My own thinking at this time the gold indexes will correct harder than usual. Bull markets like to buck riders off. Could it be that too many people are looking to reenter when and if indexes get to 200 dma"s?..and the market will go well under to scare people off?...It is just a consideration. The golds could just as well bottom before the expected 200dma is reached.
At one point I was really looking at speculative explorers...but now I am leaning more towards quality juniors...DSM, GBG for example. I think SUR though still has lots of specualtive potential as well.
Currency and gold markets have lots of big fingers being stuck into the pie...which makes them difficult to predict.