good timing, hurricanemalta, right after you posted this just
before 11 AM, with the Rut. in the green and at the top of the
channel, it started to reverse. nice chart
Heck of a deal if he got it at $4.40 an ounce! The low on
Halloween '08 only got down to just under $8.50, so he got almost a
50% discount, guess for buying quantity? He's up over 400% so
far, and looks to keep going.
I get this as a free daily newsletter, but look at the gold and
silver charts, think he mentioned they are of the ETFs GLD and SLV,
oil is USO, and copper is the futures. Gold and Silver look
to be almost to the end of inverse H & S charts, with silver
measuring up to $23, and gold to $1350. I have a friend who
is buying silver, hoping it goes back to the 1980s highs in the
$40s, or at least much higher from here, and could be right.
If it gets back above the high from 2008 of $21-22. there's a
lot of "clear air" above that. On the flip side, if copper
more importantly than oil rolls over, it seems to be a precursor of
the market, copper has gone up since early '09, from lows under
$1.25 to the recent high $3s, leading the market up.
The top indicator on marketguy's chart is the Chaikin
Oscillator, which is the MACD of the Accumulation/Distribution
line. Looks to be a good indicator to show that at the upper
extremes of that indicator, GLD soon sold off after reaching that
level. Here's a stockcharts.com link to their page that
explains and shows examples of the indicator:
But although there is also some neg. divergence on the daily and
weekly RSI, it's only a dollar below the recent highs of just under
$119. Would want to see some more confirmation from the
stochastics, a MA cross and/or trendline break, and the most
important indicator, price...to follow and drop more than it has so
far, to go short or buy puts. With the way this market's been
moving, and the increasing volatility in the currencies as well,
there could be a huge gap down or up in a day like last week or
yesterday.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
The community is delayed by three days for non registered users.
Good timing
Rut 60
Posted by sonia on 13th of May 2010 at 11:12 am
good timing, hurricanemalta, right after you posted this just before 11 AM, with the Rut. in the green and at the top of the channel, it started to reverse. nice chart
What a Deal!
Gold, Silver Inverse H & S?
Posted by sonia on 13th of May 2010 at 10:24 am
Heck of a deal if he got it at $4.40 an ounce! The low on Halloween '08 only got down to just under $8.50, so he got almost a 50% discount, guess for buying quantity? He's up over 400% so far, and looks to keep going.
Gold, Silver Inverse H & S?
Posted by sonia on 13th of May 2010 at 10:13 am
http://www.mptrader.com/images/charts/nAAIEFYUS.gif
I get this as a free daily newsletter, but look at the gold and silver charts, think he mentioned they are of the ETFs GLD and SLV, oil is USO, and copper is the futures. Gold and Silver look to be almost to the end of inverse H & S charts, with silver measuring up to $23, and gold to $1350. I have a friend who is buying silver, hoping it goes back to the 1980s highs in the $40s, or at least much higher from here, and could be right. If it gets back above the high from 2008 of $21-22. there's a lot of "clear air" above that. On the flip side, if copper more importantly than oil rolls over, it seems to be a precursor of the market, copper has gone up since early '09, from lows under $1.25 to the recent high $3s, leading the market up.
Chaiken Oscillator
Gold/GLD
Posted by sonia on 11th of May 2010 at 04:58 am
The top indicator on marketguy's chart is the Chaikin Oscillator, which is the MACD of the Accumulation/Distribution line. Looks to be a good indicator to show that at the upper extremes of that indicator, GLD soon sold off after reaching that level. Here's a stockcharts.com link to their page that explains and shows examples of the indicator:
http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:chaikin_oscillator
But although there is also some neg. divergence on the daily and weekly RSI, it's only a dollar below the recent highs of just under $119. Would want to see some more confirmation from the stochastics, a MA cross and/or trendline break, and the most important indicator, price...to follow and drop more than it has so far, to go short or buy puts. With the way this market's been moving, and the increasing volatility in the currencies as well, there could be a huge gap down or up in a day like last week or yesterday.