probably because the bounce up was kind of reflexive. I
was telling Steve all along that yeah gold stocks are going up, but
they don't seem to be powering up strongly, more like they are
getting dragged up.
However
technically, the GDX/GLD ratio gave a sell signal a couple
days ago on the 60 min chart, that's always a good guildeline and
one of my favorite ways to trade GDX via discretionary. You can see
the ratio trendline break on the 60 min chart
anyway see if GDX can find support at 20/50 day MA's on the
daily chart and form a higher low
All true and noted at the time, but if you're gonna do the GDX
System then you do it, or not, and since we haven't gotten a sell
signal there yet, I still have some.
Posted by frtaylor on 24th of Feb 2011 at 02:33 pm
I dunno, maybe because the GDX:GLD ratio broke yesterday, lol.
I'm laughing at myself because I went short yesterday and then
chickened out and covered. Oh, well.
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GDX
Posted by 24kau on 24th of Feb 2011 at 02:30 pm
Why is GDX getting clobbered to badly today?
NEM getting clobbered on earnings
Posted by cufuzzy on 24th of Feb 2011 at 03:11 pm
NEM getting clobbered on earnings as well, which is 10% of gdx. Everything else goes down in sympathy?
probably because the bounce up
Posted by matt on 24th of Feb 2011 at 02:38 pm
probably because the bounce up was kind of reflexive. I was telling Steve all along that yeah gold stocks are going up, but they don't seem to be powering up strongly, more like they are getting dragged up.
However technically, the GDX/GLD ratio gave a sell signal a couple days ago on the 60 min chart, that's always a good guildeline and one of my favorite ways to trade GDX via discretionary. You can see the ratio trendline break on the 60 min chart
anyway see if GDX can find support at 20/50 day MA's on the daily chart and form a higher low
All true and noted at
Posted by 24kau on 24th of Feb 2011 at 03:21 pm
All true and noted at the time, but if you're gonna do the GDX System then you do it, or not, and since we haven't gotten a sell signal there yet, I still have some.
Thanks, Matt
Ugly candle stick on the
Posted by oops1e on 24th of Feb 2011 at 03:11 pm
Ugly candle stick on the daily reaching the 50day
UGLY!
Posted by zach06 on 24th of Feb 2011 at 03:17 pm
GOld UGLY! Selling gold.. buying equities?
I dunno, maybe because the
Posted by frtaylor on 24th of Feb 2011 at 02:33 pm
I dunno, maybe because the GDX:GLD ratio broke yesterday, lol. I'm laughing at myself because I went short yesterday and then chickened out and covered. Oh, well.