-- New-home sales in the U.S. climb 3.3% in April to an annual rate of 343,000, the government says.

Yes, Cat Herders Summit.  Very difficult and quite nearly impossible line of work.

Agreed.  Today was just a run up to resistance, either 200dma, 50dma, horizontal, or other confluences of resistance depending on what time frame and which specific stock you are tracking.  

I'm guessing from looking at many gold charts that it will be next week before gold stocks will recycle back to daily support.  A lot of gold stocks will morph into inverse H&S over the next week.

I'm a daily trader more than anything so, it was out for me mid-day and I'll have to see if the gold stocks recycle or decide to break through all of these resistance areas.  I'll sit in cash and let the market decide.

...I think you just short it to zero.  :)

Thanks for the charts yesterday Matt. 

AEM is forming an inverse H&S on the 15min chart.

http://stockcharts.com/h-sc/ui?s=TRX&p=15&yr=0&mn=0&dy=12&id=p13390300300&a=267784447

I sold half earlier.  For what it is worth, if the metal stocks decide to rally, I believe the silver stocks are going to play catch-up the most.

Right.  I was busy this morning and didn't catch the ST 60-min pattern or for that matter I didn't see it forming over the last couple days.  It is nice to "cheat" on your homework and hard work.

At work, didn't catch it.  Thanks for the heads-up.  Sentimental favorite.  My late father traded the heck out of this stock over the last ten years or so.

Thanks.

AU for example...

http://stockcharts.com/h-sc/ui?s=AEM&p=60&yr=0&mn=2&dy=1&id=p54467987475&a=264715968&listNum=17

So cute... she has your ears.

Bad trading dog!  I missed it and that is what it is.  This is a trade not an investment.  No buy for me now. 

Here is an article that gives a view that the bonds may get bought by the Chinese.  That means TBT will not go up to the moon, Alice.  And, this (TBT) may only be a short term trading play and not a long play:  http://www.minyanville.com/business-news/the-economy/articles/china-economic-policy-federal-reserve-policy/3/14/2012/id/39815?camp=syndication&medium=portals&from=yahoo

Hi Matt,

I had a buy stop on this for this morning but, it gapped above my limit price.  I assume you wouldn't buy today and wait for a retest?  I've been watching for a break for a while and I believe that the risk-off trade is going to pull money out of bonds for a while especially with the world outlook improving, the banks passing their stress tests, unemployment abating, and the election year coming on strong.

Buy or be prudent and wait for the pull-back?

I don't see that today, yet...