Bill Carrigan article in Toronto Star Bill Carrigan, one of the most recognizable technical analysts, wrote a piece in today's Toronto Star, saying that the gold miners have bottomed, and are set to rise. He compared the ETF for junior miners vs. large-cap miners, and showed that because the junior miners ETF diverged as compared to the large-cap ETF (the junior ETF bounced off a previous low, the large-cap ETF showed a trend down), this is a sign that the mining group was set for a bounce up.
I tried to search for the link to include, but to no avail. If I do see it later on, will post it.
I think we'll see VERY positive few weeks for AVR coming up. I don't think we can go down much further, it's already gotten hammered. The results are likely to be positive, given they moved the release to Monday morning (which, as noted in an earlier post, is typically a positive sign).
Technical analysis shows positive for gold miners.
Mali situation appears to be a non-event, borders are now open, elections coming.
Summer seasonal positive impact on gold around the corner (gold price could easily hit $2,000 this year).
Increasing production.
I think we'll see some strong insider buying next week, given these low prices, that should be a catalyst.
It should be a good week next week! Keep the faith, longs, the shorts should be running for the exits shortly.