Gold is in a strong up trend, even you might admit to that..
With the fed printing dollars and the dollar weakening, not
sure where the edge is in betting against the up trend and gold as
an alternative currency...
Posted by marketguy on 7th of Oct 2010 at 05:23 pm
no doubt it's been in a strong uptrend but has almost gone
parabolic so a 10-20% correction here should not be a surprise
(even to a gold bull)...
the daily bear engulf gives shorts an easy exit should it start
heading up again (ie a
closeabove today's
high and one should exit if they are short)...
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Uptrend
daily bear engulfing
Posted by vdonato on 7th of Oct 2010 at 05:13 pm
Gold is in a strong up trend, even you might admit to that.. With the fed printing dollars and the dollar weakening, not sure where the edge is in betting against the up trend and gold as an alternative currency...
no doubt it's been in
Posted by marketguy on 7th of Oct 2010 at 05:23 pm
no doubt it's been in a strong uptrend but has almost gone parabolic so a 10-20% correction here should not be a surprise (even to a gold bull)...
the daily bear engulf gives shorts an easy exit should it start heading up again (ie a closeabove today's high and one should exit if they are short)...