As someone commented earlier, yes the GDX/GLD ratio crossed over
the trendline this morning.
Silver having a good day as well, SLV gapped up out of the
triangle. Yes it gapped up, but I consider that a break away
gap since it gapped up over the trendline, so the trigger was to
but it on the open regardless of the gap up.
Too man people are conditioned to never chase a gap up or down,
but there are instances to do so; when you gap over a trendline
(the gap clears resistance), those are gaps to chase.
GDX and SlV silver comments
Posted by matt on 25th of Aug 2010 at 01:52 pm
As someone commented earlier, yes the GDX/GLD ratio crossed over the trendline this morning.
Silver having a good day as well, SLV gapped up out of the triangle. Yes it gapped up, but I consider that a break away gap since it gapped up over the trendline, so the trigger was to but it on the open regardless of the gap up.
Too man people are conditioned to never chase a gap up or down, but there are instances to do so; when you gap over a trendline (the gap clears resistance), those are gaps to chase.
gap up
Posted by rkelman on 25th of Aug 2010 at 07:46 pm
great comment on the gap up !