Matt:

“Regarding a pullback, while one could occur at anytime, price could still continue to push higher.”

I can not fully understand your above points on GDX:

Why you think we could have a pull back, is this because our rally is close to 26.3% of the pull back from last September?

“While one could occur at anytime, price could still continue to push higher.” Do you mean after the pullback we form a high low, we can reach price that is higher than the price before this pull back?

Thanks!

Today I bought some NUGT @10.75

Thanks, Matt.

I will make some judgement.

Previously I just set up an entry price. Now I want to see where the market is going, then take my own steps.

Happy birthday, Matt. I am much older than you but in investment, you are my teacher, a good teacher.

Thanks again.

Matt,

It looks like we are getting a nice pull back.

I set my purchase @$42.90-$43 for GDX.

We will see!

Thanks a lot, Matt!

I am not a trader, but short-term investor.

However, your writing gives me a lot to think!

This time I have positioned a small position, and I want to add more to follow your two systems. Thus I hope we can get a decent pull back!

Thanks again!

Thanks, Matt.

Recently I checked my mistakes.

I did have money management problem. My position sometime was too large. Even if I used ETF like GDX but that is only one sector. I am paying attention to these problems.

Matt

I still have some money to buy.

Where is the povit point for GDX and NUGT for the pull back?

Thanks!

My moving average and chart pattern both turned to buy today. This proves that Renko and BTI systems in this website are really good systems, both have the advantage finding the trend earlier.

Thanks Matt and Steve

Steve,

What impact you will estimate?

Matt, you have a very good point!

It looks GDX is much stronger than GLD.

I think Gold and Silver have a death run top,

HUI or GDX also has one.

I got really fear for these charts.  

We turned to a buy about $40.60, now GDX comes down to $41.37, about $0.8, we may be back to sell.

This market is very fragile. I think when we get out of the falling wedge or falling channel, we might be better.

From Internet I found many people use BPI to trade both gold and gold stocks. It worked very nicely. BPI is the best index used by traders before 2000.

However, I am also use the following methods to double check my point of view on the market trend:

1. Moving average;

2. Chart pattern

3. Renko system.

Currently BPI and Renko are in buy, but Moving average and Chart pattern are in sell. Thus I am hesitating to take position.

In such a summer doldrums, GDX reached $39.08, now rallied for three days. Our two systems are in buy. If the world market is in a sell and gold may not be bottomed @1527, and may go down to $1200, do you think GDX can go down further?

My answer is, it may!

We are still barely in buy side of Renko system. However, 0.63 is a paramer we chose. But if I choose 1 dollar now we have a sell signal.

Normally a rally should be quite strong at beginning, but this time it is rather weak.

Fundamentally, we are still in deflation cycle, other commodity is also in down side.

Technically, we are below 200, we are even below 9 days avg.

Thus I am afraid that we may face more down side, even so many bull supervisors are so bullish.

The last hour is from professional traders. We might keep the Renko buy signal.

It is only on boder

I hope this rally is not a dead cat bounce! I hope the Renko system buy will last to the end of trading time!

Here we trade BOIL very much. This ETF is a Proshare ETF. It hsas a very headache tax problem K-1.

http://etfdb.com/2012/etf-tax-tutorial-complete-list-of-etfs-that-issue-a-k-1/

I am treating AGQ K-1 form.

I hope BOIL can save your guys headache.

Matt,

From yesterday to today, we can see the volume decreased from about 10:00 AM to afternoon.

Do you think this is still short covering?

I set up a good stop loss. Thus everything is OK.