Surveying the Damage

Posted by: stocksage1 Posted date: March 15, 2012 In: Gold and Silver, Junior Mining Companies | comment : 15

The junior/senior gold mining sectors have been absolutely crushed during the last three weeks. Many names in this space are either at or very close to major long term support levels and/or trend lines. After surveying the damage across roughly fifty charts I have selected a handful of names which most interest me (I decided to use only weekly charts to gain a better perspective of where these stocks are currently positioned) – enjoy:

Click to enlarge

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About The Author

stocksage1

Robert Sinn is a professional trader and macroeconomic/market analyst who focuses on multiple asset classes including equities, futures, options and currencies.

Number of Entries : 93

http://economicdisconnect.blogspot.com/ EconomicDisconnect

I don’t keep track of the others but my long term support for NEM is the same.
Dice007

What is YOUR opinion of where these stocks are going?

http://www.stocksage.net Robert Sinn

Each one is different, AUY looks like a very reasonable buy near current levels, NEM a strong buy below 53, while some of the others look to have another 5%+ more downside. The sector is clearly damaged but there will be winners from current levels – one way to play the miners is to use pairs trades by going long the stronger charts vs. short the weaker ones.