frtaylor - GDX bounced nicely yesterday like we thought it
would. Otherwise the pullback today makes sense because if
you look at a 60 min chart, the bounce came off of a pretty steep
downtrend, typically after that you get a bounce, then pullback and
consolidate to form a better base, which is what GDX may be doing
before trying to launch another move higher
Posted by frtaylor on 12th of Jan 2011 at 10:24 am
Thank you Matt, this why I LOVE BPT! I sold GDX first thing this
morning and went short at 58.05. Time to watch a 15 min chart
consider covering my short and possibly go long.
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GDX - bounce for a short
Posted by frtaylor on 12th of Jan 2011 at 09:56 am
GDX looks weak this morning, but is bouncing from an initial move down. Might be a good place to enter a short. I'm looking at a 5 min chart.
frtaylor - GDX bounced nicely
Posted by matt on 12th of Jan 2011 at 10:11 am
frtaylor - GDX bounced nicely yesterday like we thought it would. Otherwise the pullback today makes sense because if you look at a 60 min chart, the bounce came off of a pretty steep downtrend, typically after that you get a bounce, then pullback and consolidate to form a better base, which is what GDX may be doing before trying to launch another move higher
Thank you Matt, this why
Posted by frtaylor on 12th of Jan 2011 at 10:24 am
Thank you Matt, this why I LOVE BPT! I sold GDX first thing this morning and went short at 58.05. Time to watch a 15 min chart consider covering my short and possibly go long.