GRIM REAPER TA 'DD' WORK

I thought the faithful Silverado longs would find this of interest, looking specifically at the 'Daily' chart, comparing the 20-50-200 DMA technical indicators for Silverado Gold Mines vs Barrick Gold, I am not looking at the stock price, as we know, Silverado is an exploration gold company and Barrick a senior gold company.

As you can see from the charts below, both gold mining companies started their move up the chart about the same time, at the beginning of Aug.

As you can see from both company charts, after the run-up in price, they are both now in a consolidation phase, and both stocks are forming their own pendant flags

Here is where things get very interesting, as I have mentioned last week, Silverado 'Daily' chart has turned completely around and is now right-side-up with two major "Golden Cross" events occuring over the past two months. While Barrick Gold's 'Daily' chart is still up-side-down... WOW!! I wouldn't have believed it, until I compared the two 'Daily' charts together. As you can see from Barrick's chart, it is close to having its first "Golden Cross" event happening with the 20 DMA closing in on the 200 DMA line.

As I have mentioned before in an earlier post, I looked at several other gold exploration company "Daily' charts, and they were also completely up-side-down!!!

My conclusion, my TA 'DD' work shows that Silverado Gold Mines is ahead of most of the gold mining pac with its 'Daily' chart turned right-side-up!!! The big boyz, the technical & momentum traders= The big guns!!! are more willing to buy and hold a stock when the chart is turned right-side-up and the 20 DMA line is the support/floor, VERY bullish pattern!!!

Please use scroll bar at bottom to view full charts

Barrick Gold Corp 'Daily' Chart

Silverado Gold Mines 'Daily' Chart

John Embry interview with King World News

Finally the mining shares have rallied. We had been saying they were grotesquely oversold, and you know my view that it was not natural selling. There was financial repression, in a huge way, going on in that sector."

"Now the unnatural selling we have seen is starting to be relieved. If I'm right on my gold and silver call, and Im confident that I am, the explosion in the share prices is going to be historic."