Fwiw.......Alxdf:
- closed at usd .065 = cdn .0874 (boc 1.3453 close)
- inside day - low 47K volume - narrower daily range
- for the last few days, canaccord has pretty much had the best bid of
usd .0595, with 50K on the bid at the close
- on the flip side, canaccord also had 50K up for sale at usd .077 --
hmm, that's about a nickel above april's high (that's ok with me)
Azx:
- closed at cdn .08 on extremely low 134K volume
- once again, majority of volume was .075 swaps by mm 07td
Bottom-line:
In short, next week I suspect we'll finally punch thru recent st resistant levels (.065 alxdf and .08 azx). Now it might not happen on monday, and there will probably be drama, but by next friday I expect alxdf and azx to be trading higher. Alxdf most likely will lead the charge. Azx will relunctantly follow, kicking and screaming.
Ok, so why do I think this will happen next week, especially after gold and gold stox have been hit pretty hard these last few days? Among other things, consider:
1. alxdf and azx have just finished their third consecutive week of lower stairstep volume
2. continued low volatility (i.e. narrow price range)
3. no "panic" selling vis a vis falling gold indices (in fact, opposite)
4. alxdf and azx have very bullish weekly charts -- they mirror one another with beautifully
rising macd, positive par/sar plus rising mfi, stos and wmR% to name a few
5. the trading of canaccord on alxdf and 07td on azx -- looks like positioning for higher sp
6. by next week it will be a month since the last pr with drill #s -- wouldn't surprise me if we see a
flurry of them in rapid succession
In conclusion, it appears to me that alxdf and azx are like springs just patiently waiting to be sprung. So we'll see what happens next week. Jmvho.
p.s. if you have a chance, check out the weekly chart for hui, xau, jnug and gdxj. Specifically, refer to the weekly closing low vis a vis the previous week. I almost fell off my chair -- it looks like they all closed inside on the weekly low. Is that a coincidence or pre-ordained? Now there are gaps just a bit lower, but I'll be curious what next week brings. Could we possibly see a huge rally next week in the goldies. Any thoughts?
goldopp