with gold at the top of the potential bear flag, I sold my GDX position at 56.35.  I entered last Thursday at 55.35 or so.  quick trade.

rule #1 isn't as clear as it could be.  but just think it through: if we're in a downtrend (as we have been), the 5-day average reflects the five previous days' prices (actually BPGDM %'s), which will be higher than the current price.  So that can't be a buy signal; rather, it confirms we're in a down trend.  Only when the current price breaks above that average can we say there is potentially a new up trend starting.

You have it backwards.  The intraday BPGDM needs to cross above the 5-day ma.  So, no signal yet.  However, the GDX:GLD ratio on the 60 min chart did break the down trend line on Thursday.  I took a long position.

Matt, although I didn't take this trade, I appreciate your posting it.  It was educational for me.  Would love to see any similar ideas in the future.

Matt said he would go long on a pullback.

Did you mean August 29-30? Because Sept 29-30 there was no whipsaw, and it was of course moving to the down side.

nice work randy!

or a cup and handle. since the right side neckline point is so much higher than the left, I'd think you can buy on the break over the right neckline point, and not wait to cross a drawn-in neckline, which would be a much higher point.

I believe randy is only using the 8 ema to exit the trade, not to enter it.  As a way to protect profits, such as the situation late last week.  Is that right randy?

I thought Matt's 30-minute SPY system was the 25/170/25 MACD histogram crossing the zero line.  If you could reference a chart, say from the blog or from a newsletter, I would be very interested to see the reference.

FRT

A little manna from heaven here in the last 1/2 hour of the day!

GDX just filled this morning's gap, and is already headed back up.  Matt or Steve, do you try to play these kinds of intra-day moves?  I had set a buy stop at the bottom of the gap and am in w/ a very small amount.  Trying to learn.

you took the thoughts (what little of them there are) right out of my brain!

Believe me, it all makes my head hurt too!  Time for ibuheineken.

That's a good point.  How does that figure with your weekly chart with the 70 sma showing we're now below it?  That chart implied we are going to continue down, but if we go up for a month or two, wouldn't the market cross that average?  

Talking head from Loomis Sayles was just on CNBC, pronounced that the bottom for the year is in.

well, no -ive divergence on the 60, 30 or 15 min charts of gld.  One more move down?

Thanks Steve.

Anyone buying gold here?

Incredible, you'd never guess the market had taken a nose dive the last two days from looking at that chart!