Posted by dodgerdog on 5th of Aug 2008 at 10:50 am
Many people were bottom fishing gold last week and on Friday I
said that GDX looked like it would break below 40 which has now
happened as we traded into the 39's today - now watching to see if
GDX can produce a "hammer candlestick" on the daily chart after
today's gap down. Should a hammer form today one could look
to take a trade long position for a bounce. Need to see how
things play out but this sector is deeply wounded
technically.
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Are you talking about today's
Got Gold? No got DZZ! Anyway, the 65 ...
Posted by califman4u on 5th of Aug 2008 at 10:46 am
Are you talking about today's close under 40 Dodger?
Many people were bottom fishing
Posted by dodgerdog on 5th of Aug 2008 at 10:50 am
Many people were bottom fishing gold last week and on Friday I said that GDX looked like it would break below 40 which has now happened as we traded into the 39's today - now watching to see if GDX can produce a "hammer candlestick" on the daily chart after today's gap down. Should a hammer form today one could look to take a trade long position for a bounce. Need to see how things play out but this sector is deeply wounded technically.