A few posts ago I observed that Research In Motion at $23 was almost a joke – unless the market knew something we don’t know - but I don’t think RIM is going bust anytime soon. The technical view of RIM is one of the worst big cap train wrecks I have ever seen. RIM was so bad it had to be good. So here we are with RIM at another 52-week low. I planned to sell on a weekly close below the August 8 low of $21.40 and so I now am done with RIM.
The big cap gold stocks are not only lagging the bullion they have not yet attracted the investment sheep. They are raking in the cash and are retuning some to shareholders. Technically on the TSX Gold index there is much price congestion through 2011 but the relative perform vs. the TSX60 is bullish. The price is above the 40-week MA and we have a rising primary trend line. A move above the 420 level should attract some sideline cash. Enjoy with ABX or the basket iShares S&P/TSX Global Gold Index Fund (XGD).
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