GREY:ALXDF - Post by User
Post by
goldopportunityon May 09, 2018 5:32pm
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Post# 28007864
Fwiw........
Fwiw........Alxdf closed at usd .068 = cdn .0874 (boc 1.2856 close)
Alxdf up 5% on more than 4X yesterday's volume, Quite the wild day with a wide 1-1/2 cent spread between the opening low and closing high. Sp finished the session just a titch above the 50dma. Technically, today's high surpassed the last benchmark lower high of usd .067 from last month -- could be very important.
Azx unchanged on 50% more volume than yesterday. However, mm idiot 07td was on the sell side for almost 93% of today's trades. Strip this mm idiot out and you see there was hardly any selling. And lo and behold, there's a juicy cdn 1-3/4 cent spread between azx's .07 close and alxdf's cdn equivalent close of .0874. Wow! Arbitrage anyone? :)
At this writing, gold futures down a bit. Ditto for hui, xau and gdx; gdxj up fractionally. Dow closed above its 50dma -- first time in 2 weeks. Usd futures up a titch, another higher high/low. 10-yr bond yield over 3% -- looks poised to test recent high.
Bottom-line:
So what happens tomorrow? With that huge 1-3/4 cent currency equivalent gap between alxdf's and azx's closing prices, it wouldn't be a stretch to speculate that prices will find a middle ground. We're still in a news vacuum, but we know updates from alexandria concerning a buy-out and the RE are just around the corner. Volume will most likely continue to be on the light side. So you just gotta expect some price flucuation.
Jesse Livermore, arguably the world's greatest trader, once said that the hardest part of being a trader is being patient. In other words, waiting and sitting on your hands. So true indeed. As an aside, I'm betting much will be revealed before mrs goldopp and I go away at the end of this month for a week in the sun.
So we'll see what happens. Continue to stand your ground, folks. Jmvho.
goldopp