It won't breach today, it's at 173.31, however maybe tomorrow.
As I talked about on the weekend, the everything is connected
the market will rally when gold pulls back or vice versa gold will
pullback when the market rallies. Bonds are also down which
is to be expected, however not to the extent that we are seeing
with gold. But of course, gold was extremely hyper extended
from a technical perspective
anyway congrats on your GLD short. I have some DZZ myself.
Posted by frtaylor on 23rd of Aug 2011 at 03:54 pm
I took the 8-day simple ma (not ema) and multiplied by 6.5 (=
52) and plotted that on my hourly chart. That's what's
showing 177.50 or so. Is that not the way to look at the
8-day when using the hourly? Plotting on GLD.
You have a virgin point of control around 1176
WHo knows.. this market is wacky! One trick I
use is to scale into the Puts a couple months out and sell
weekly options against them to cash flow.
It won't breach today, it's
Comments on Gold
Posted by matt on 23rd of Aug 2011 at 03:32 pm
It won't breach today, it's at 173.31, however maybe tomorrow. As I talked about on the weekend, the everything is connected the market will rally when gold pulls back or vice versa gold will pullback when the market rallies. Bonds are also down which is to be expected, however not to the extent that we are seeing with gold. But of course, gold was extremely hyper extended from a technical perspective
anyway congrats on your GLD short. I have some DZZ myself.
I took the 8-day simple
Posted by frtaylor on 23rd of Aug 2011 at 03:54 pm
I took the 8-day simple ma (not ema) and multiplied by 6.5 (= 52) and plotted that on my hourly chart. That's what's showing 177.50 or so. Is that not the way to look at the 8-day when using the hourly? Plotting on GLD.
keep the wife out of it!
Posted by zach06 on 23rd of Aug 2011 at 03:34 pm
The wife told me to buy gold yesterday night... and I told her it is time to short it , not buy it...... Women just love that gold and diamonds.
Same thing happened to me
Posted by darnelds on 23rd of Aug 2011 at 06:04 pm
Same thing happened to me 2 nights ago. Wife mentioned buying gold. First time ever. And gold is all over the local news the last 3-4 nights.
wives?
Posted by mmunford on 23rd of Aug 2011 at 03:44 pm
mine said the same thing? I am thinking SDS at the end of the day though...any comments?
tomorrow should be a chop day
Posted by zach06 on 23rd of Aug 2011 at 03:53 pm
You have a virgin point of control around 1176 WHo knows.. this market is wacky! One trick I use is to scale into the Puts a couple months out and sell weekly options against them to cash flow.
that 1176 is /es futures..not cash sorry
Posted by zach06 on 23rd of Aug 2011 at 04:11 pm