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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Today's Market

Today's Market

posted on Oct 28, 2009 01:17PM

On NYSE - Kry sp broke out of its consolidation pattern. Yesterday's clue, prompted by the Brisas takeover, seems to be following through. Volume better than 680k at this time and showing 63k on the Ask side - at least that is what we are allowed to see. About 250k+ dumped at about 1050am. Daily techs show Mac Bearish, Stoch Bullish, and the tie-breaker OBV non-supportive. 15min is showing promise possibly from cost averagers thinking they are taking advantage. Might be a bit too soon to add. 60min is still semi-ugly so today possibly may recover, although anything is possible with some news.

Dow is down. Daily techs are hard to turn once it starts moving in its emotional direction, which is currently downward. Just all a part of the cyclic nature of the beast. Looking to stay above 9430 in this cycle to remain overall Bullish (seems to be getting closer and closer to correction time). Techs down, Banks down, RecessProofers mostly up, Restaurants down, and Miners down. Pick and choose wisely, and stay diversified in your choices.

Gold taking a hit and has broken through the $1030 support level and trying to recover. Last night open of London saw selling off. Then open of NYMEX saw some upside buying, then the Market opened and Gold was knocked down some more. Be careful, with both the Market and gold moving in unison.

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