Despite Gold continuing to move up, Gold stocks started giving signs
today that it might be hard to keep up. Basically Gold stocks have
been going up so much lately that a pull back is imminent despite
Gold's consistent move up. ABX gave us a dark cloud formation after
giving up all its gains and closing slightly lower, practically flat.
ABX has finally broken its up streak, after 7 straight up sessions.
However, despite having a SELL SIGNAL, I wouldn't rush to sell if you
took a position recently. For the moment ABX could possibly pull back
to $42.00, and if we get a bounce back up we would get a BUY SIGNAL. A
move below $42.00 would give us a SELL CONFIRMED, where ABX could then
fall as low as $40.00 or $39.00. On my part I currently have a strong
gain with ABX for which I have set a few days ago a VTSO, that would
get triggered between $42.00 and $43.00. Although, like I said ABX may
bounce back up $42.00 and continue higher, since I have significant
gains I am looking to protect and lock in what I have. Once you start
making gains there is no point in risking more than you should. You
cannot assume that what the technicals say will always occur. If my
VTSO does get triggered to then see ABX bounce back up over $42.00
along with Gold I may consider re-entering into a position with Gold
either with ABX or another Gold stock. The market, Gold, and stocks in
general are currently at a critical point, and we should know perhaps
tomorrow or in the coming days if the move up will be accelerated or
if it will start pulling back as I'm expecting. The reason I wouldn't
jump to sell based on this signal is because some Gold stocks did
close up today and have not given any SELL SIGNALS, and are currently
HOLDS. Also ABX, despite being down today, it wasn't down hard to give
us a clear SELL SIGNAL, it was practically flat.

ABX - LONG

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