Explor Resources Inc New EXSFF

Metals & Mining Industrial Metals & Minerals

Explor Resources Inc is a Canadian company which is engaged in the acquisition and exploration of mining properties in Canada. Its projects comprise of Chester Copper Deposit, Bathurst Mining Camp, Timmins Porcupine West, Montrose, Kidd Township, Carnegie and Eastford Lake among others.

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Explor Resources Inc New

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Comment by Ducimuson Aug 17, 2008 10:49am

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Post# 15390342

RE: Fromt Kitco.

"I'm not so sure hgu right now is the way to go. We've got a couple moreweeks left in August and I think gold will drop some more. While I wantto be long gold, I think the timing is not yet right. HGD seems to bethe way to go for the next few weeks. Perhaps it can get to $18 from$14, that's close to 30% more to go. Only time will tell." - schor2

I kind of agree with you here. She sure don't look good now. Gold has been in a clear, solid uptrend for the last 5 years, but has broken it this week. That ought to grab attention and shake the faith of the longs. Furthermore, we made a double-top - with the effect this usually bring - a decline. The target on the double-top is $650; which also happens to be the next major support. Interesting.

Last, MACD (my favourite indicator), broke to the downside a triangle pattern it had formed over the last 2 years, confirming that all is not well here.

Gold Continuous Contracts - 10 Year Chart

Gold Continuous Contracts - 3 Year Chart

Interested in a EXS chart with that? Here you go.... watch that MACD and neckline like a hawk. I don't have too.... 'cause I listened to the buy signals a little earlier, thus allowing me to take my profit (albeit not as big as the paper profit of some of you highrollers ah ah ha!) to HOD.TO.

Good luck.

Explor Resources Inc. - 5 Year Chart