Fwiw........Alxdf closed at usd .037 = cdn .0485 (boc 1.3113 close)
Alxdf down 2%. 48K changed hands -- a tad more than half average day's volume. The usd .037 bb was resolute throughout the session, and increased by mid-afternoon. Sp closed at a little more than a 50% retracement between this up cycle's low and high.
Azx down 10%. Meagre volume on tsx-v -- only 5K traded, and this was a gap-down td cross 10 min before the close. Volume was also very light on the cdn alternate bourses -- only 6.7K, with anon selling 6K of this. Today's cdn .045 close was a 60% retracement between this up cycle's low and high.
The big thingy today was the low volume in both stox (especially azx). No legits are seling.
In spite of a huge advance in the usd, spot gold is still trading around 1210. The hui, xau and gdxj approached wed's lows. Dow gapped down and closed almost 200 pts off. And the 10-yr treasury yield gapped down below the 50dma -- now at 3-week lows.
Bottom-line:
So what happens next week? On monday morning, the gold indices may retest wed's multi-month lows, and we may get intra-day fake-outs. But generally, I think things begin to positively turnaround in the gold sector as the week progresses (could even start to happen by monday afternoon). But we'll see.
Alxdf seems to have relatively strong support at usd .037. Potentially there could be intra-day downside risk to usd .036 (50dma). On the upside, the first goal is to fill wed's down gap to .04, with a st target to close above .044, followed by a .0465+/- close.
Azx's sp has been manipulated by anon's selling this week, and today's only trade, a cross at the cdn .045 low. But despite these shenanigans, the resolve of alexandria shareholders has been very strong. Now we still don't know what anon plans to do, so that still remains a bit of a wild card. I'm thinking today's close is it in terms of downside risk. On the upside, the first thing on the agenda is to close today's down gap. That would bring us to .05, with a st target to close at .06, folowed by an .065 close.
Just to close, gold has been relatively strong vis a vis the greenback. One would have expected that today's strong, breakout surge in the us would have seen gold trade under 1200. But this didn't materialize. And the gold indices today (except for gdx) bounced off wed's lows. So what gives? Well, a very quick look at the charts tells me that the usd is as overtly over-bought as the gold indices are overtly over-sold. Sure, there could be some weakness come monday morning, but if this happens I believe it will be very short-lived.
So we'll see what happens. Have a good weekend and always stand your ground, folks. Jmvho.
goldopp