I think it's great for those who are trapped to get a bounce and
sell, as retail may bid up
but regarldess of CNBC-bozo-the-clown-in-chief, for a
bounce risk rewrd is not bad, if we close like this, 2 days of
outperformance by GDX versus GLD, support is very close, lots of
put to get busted, it may give a good bounce
38 - 38.5 on an hourly close basis is good for me, anything
above will invalidate the EW count I posted erlier, I bought some
sep calls when GDX was around 34.5
I think I should mention that my confidence level for this trade
is low, and it is my Vegas Money, I still humbly think there is a
good chance for another spike down.
Chartshows it broke decisively through 12 month
sma which has been support since 2002 with only minor breach in
2005. I wouldn't touch it at this point.
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GLD
Posted by cdjd on 12th of Aug 2008 at 02:06 pm
J Cramer recommends GLD. What do you make of it?
I think it's great for
Posted by googool on 12th of Aug 2008 at 02:22 pm
I think it's great for those who are trapped to get a bounce and sell, as retail may bid up
but regarldess of CNBC-bozo-the-clown-in-chief, for a bounce risk rewrd is not bad, if we close like this, 2 days of outperformance by GDX versus GLD, support is very close, lots of put to get busted, it may give a good bounce
what would be considered a
Posted by athakker on 12th of Aug 2008 at 02:37 pm
what would be considered a good bounce?
38 - 38.5 on an
Posted by googool on 12th of Aug 2008 at 02:47 pm
38 - 38.5 on an hourly close basis is good for me, anything above will invalidate the EW count I posted erlier, I bought some sep calls when GDX was around 34.5
I think I should mention
Posted by googool on 12th of Aug 2008 at 03:39 pm
I think I should mention that my confidence level for this trade is low, and it is my Vegas Money, I still humbly think there is a good chance for another spike down.
Cramer recommends = do not
Posted by unsane on 12th of Aug 2008 at 02:16 pm
Cramer recommends = do not buy
Chartshows it broke decisively through 12 month sma which has been support since 2002 with only minor breach in 2005. I wouldn't touch it at this point.