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Agnico Eagle Mines Limited Message Board

  • beartooth777 beartooth777 Aug 5, 2008 9:19 AM Flag

    gold likely will tag the 50 week

    @ 866; may happen this morning as the dollar is spiking

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    • hey, if you do decide to try CAL, watch it like a hawk;
      on 7/23 it broke a solid downtrend from feb on good vol - classic BO; the next day it completely reversed and went back below the BO; it then muddled around for a few days
      making it appear the BO was bad, but out of no where it started back up; its wild and as you know the business has issues
      still cant understand the violent commodity sell off; nothing changed today fundamentally and the fed did nothing;
      if anything it should have been bullish for gold; my guess
      is that this has to do with hedge fund implosions and mutual fund giants doing herd sector rotation together in a panic;
      the world economy may be slowing down, but I doubt that much happened today; the dollar, unfortunately may be doing better cause other currencies need to correct; euro rates in the clouds

    • had to nibble some in the 49s

 
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