GREY:ALXDF - Post by User
Post by
goldopportunityon Mar 17, 2017 5:48pm
121 Views
Post# 25995961
Fwiw......
Fwiw......The gdxj jr. gold miner index has taken it on the chin these last couple of days. This is just a healthy pullback. It gets the weaks hands out of the market and gives traders another chance to get in before the next move up. All in all a very good week imo. Let's talk about azx and alxdf.
First azx: glad to see the .06 asks significantly decrease today. I suspect traders will keep sp with the existing .055/.06 surface bid/ask range for just a bit longer in hopes of picking the tree bare of any remaining weak hands. Those .06 asks will very soon be taken out....so don't fret!
In the meantime, traders are having a field day with alxdf. Nice volatility continued again today. Even tho sp closed down for the day to close at usd .0415, this still equals cdn .06 (based on boc 1.3369 close). And active traders are using currency and basis-point pricing to great advantage if they arbitrage as you get more azx shares for your greenback. The 50dma for alxd is usd .056 -- and I suspect this will be hit before too long. Btw, usd .056 = cdn .07.
Pog had an inside day and there's a possible downside risk to just below $1217 (50dma) early next week. The jr. miners might be under a bit of pressure but they will recover nicely as the week progresses. In fact, the gdxj will lead the pog. So azx will most likely continue to trade in a narrow half-cent range for a tad longer. And alxdf could test recent lows on monday but an absense of sellers will result in a steady (tho nicely volatile) upward movement in sp.
So we'll see what happens. Everyone have a good weekend. Jmvho.
goldopp