Alexandria Minerals Corp ALXDF

Fwiw........

[goldopportunity]

Alxdf closed at usd .0309   =   cdn .0401     (boc 1.2994 close)

Second consecutive day of no trading in alxdf.  Continued stand off between buyers and sellers.  Pretty much at least a half-cent+ bb/ba spread for most of the session.

Azx-v down 14% with 98K traded -- more than 90% crosses.  Btw, did you notice that huge 4M+ bb I ask rhetorically.  The de facto alternates were unchanged at cdn .035 on 250K. 

The cdn alternates have increasingly become the "de facto" primary exchange for azx shares as most of the trading volume is now done here of late. This is very important.  You see, the price/volume and other technicals on the alternates are usually not shown and reflected in the major charts.  This means certain parties can use the "de facto" alternate exchange to "hide" their buy/sell activities.  Also, chartists don't have the whole picture when doing technical analysis.  


Spot gold failed to get past yesterday's high -- now trading near session lows.  Gold indices down but traded within the previous day's perimeters.  Ditto for the Dow.  Usd up strongly.  10-year treasury yield also up strongly, now back over 3.2%.


Bottom-line:
The Fed minutes for the sept meeting essentially reiterated that it's all steam ahead for further rate increases.  The 10-yr treasury yield rose quickly on the news, and could challenge recent 7-year highs.  This doesn't bode well for the Dow et al moving forward.  Having said this, it wouldn't surprise me if the Dow still climbs above its 50dma as strong earnings may give stocks a further boost.   But we'll see.  The 10 year may tell the tale.

So what happens tomorrow?  Gold instruments could be under further pressure if the 10-year yield continues to rise.  If this happens, the gold indices may be poised to fill those up gaps just below their respective 50dma.  This could incite some residual selling in alxdf and azx.  But I believe any selling will be limited.  In alxdf's case I think we'll continue to trade and close between usd .028 and .0343, with possible intra-day fake-outs.  Azx looks well bid at cdn .03, with .04 as a st cap.  I could see a large number of cross trades at .03.  But we'll see what the 10-yr yield, usd and the equity markets do.  Remember, it was just last week that gold and the gold indices broke to the upside on their perception as a safe haven.


So we'll see what happens.  Always stand your ground in the markets and in life, folks.   Jmvho.


goldopp