Thursday, December 28, 2006

Downtrend Break

Comments: The action has been weird in the miners. After the mining indexes regained their uptrend line, they have no managed to also break the downtrend today-assuming the current action sticks. I suspect that there will be some back down in order to fill the small gap left today down to 140.09 in the XAU. The action is very tricky now because it's around the end of the year when trading volume isn't all there.

Last Week's Gain/Loss: -2.76%. Third straight weekly loss. Although the losses haven't been large, they have been a bit disappointing.

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