Gold Sector Chart Update
posted Sep 30, 2005 at 11:24PM
All trends remain in place and the dollar is running into major resistance. I really don't like the technial condtion of the gold sector as a whole what with overbought starting to turn into bearish divergences.
It is not that the sector can't keep going up but the risk premium is a little high, at least from an "indexing" point of view.
I am keeping an eye out on stocks that appear to be putting in some bottoming patterns...if the sector as a whole retraces I am looking to do some bottom feeding.