Today, Larry Berman CFA, CMT, CTA and Jon Case commented about whether MAG-T, TXG-T, SMF-T, VIT-X, YRI-T, EQX-T, USA-T, BTO-T, NMX-T, K-T, AGI-T, DGC-T, AGB-X, ROXG-T, ALB-T, WPM-T, NVO-X, RNX-T, TV-T, TI-T, NMC-T, WIR.UN-T, IPL-T, LEMB-N, HEJ-T, VBAL-T are stocks to buy or sell.
They are saying the ABX-T offer is just not good enough. It wants to stick with the plan with G-T to put together a joint venture for the Nevada assets which is really what ABX-T was after. There is key resistance at $1175 in gold. Over the last 6 months we were bottoming in August and have gathered steam ever since. Shorts scrambled to cover their positions. To go above neutral into bullish we have to get above $1375 and are due for a pullback.