GREY:ALXDF - Post by User
Post by
goldopportunityon Apr 27, 2018 12:00am
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Post# 27948392
Fwiw........
Fwiw........Alxdf closed at usd .0662 = cdn .0851 (boc 1.2862 close)
Alxdf closed above yesterday's high. Azx closed down 6%, thanks to mm idiot 07td.
Pretty lopsided 1-1/2-cent diff between alxdf's cdn equivalent close of .0851 and azx's cdn .07 print. Yesterday it was alxdf that traded under its 200dma, today it was azx's turn. Welcome to the world of manipulation, folks. Happens in all stox, so don't think for a minute that we're being singled out. Heck, the hui, xau, gdx and gdxj are all under their respective 200 (some by quite a bit). So relatively speaking, we're faring not too badly.
Bottom-line:
First a couple of things. Gold possibly could get quite volatile tomorrow. It may even trade around 1300 intra-day before swinging higher. If this indeed does happen then I expect the lows in gold will be in. Of course, in this scenario the gold instruments would also be under pressure intra-day.
For tomorrow I'm thinking alxdf and azx could trade anywhere within this week's range. I know that's a wide spread, and sorry I can't be more specific, but alot could depend on some key data being released. At 8:30 am, the real Q1 GDP (Q/Q) and employment cost index (Q/Q). And then at 10 am there's april consumer sentiment (M/M). My gut tells me the market wants the dow to at least reach its 50dma and the greenback its 200 before the books close for the month on monday. Add to this toxic mixture the 10-yr yield hovering around 3%, and you've got a recipe for a huge reversal taking place, maybe as soon as next week. So maybe 1 or 2 more days of some anxious moments in the gold sector, but after that I think we start our trip to 1400+.
So we'll see what happens. As usual, stand your ground, folks. Buy if you can and feel comfortable. Jmvho.
goldopp