Posted by dallassteve on 17th of Nov 2010 at 10:33 am
The GDX system went short yesterday, so I took a small position
short, expecting it to bounce. I am about 1.5% in the red on
this morning's bounce.
I drew a fib retrace just on the last leg, down, and 50%
comes in right at GDX 58.8, and this morning, GDX has already
bounced to this level.
GDX is volatile, so it might bounce a little higher, but I
am expecting one more move down to complete the ABC correction (if
that is what it turns out to be)
I am thinking of adding to my short here (not as part of the GDX
system).
GDX short
Posted by dallassteve on 17th of Nov 2010 at 10:33 am
The GDX system went short yesterday, so I took a small position short, expecting it to bounce. I am about 1.5% in the red on this morning's bounce.
I drew a fib retrace just on the last leg, down, and 50% comes in right at GDX 58.8, and this morning, GDX has already bounced to this level.
GDX is volatile, so it might bounce a little higher, but I am expecting one more move down to complete the ABC correction (if that is what it turns out to be)
I am thinking of adding to my short here (not as part of the GDX system).
Anyone else?
I had the same question
Posted by frtaylor on 17th of Nov 2010 at 10:36 am
I had the same question for Matt! I added some here at 58.70, but it may fill the gap, which means adding more at 59.20 or so.