You summarized things very well frtaylor - pullback off today's
highs so far has been on light volume so could recover next week.
Watch to see how it closes (gap below).
Many would have never thought to put that wedge line in there
which has acted as resistance.
Overall, GDX is still in an uptrend (always difficult to pick
exact tops) so trade according to your objectives and risk
tolerance (that means have a proper stop in place that coincides
with your risk level).
You summarized things very well
GDX did not break cleanly over wedge
Posted by steve on 2nd of Sep 2011 at 02:43 pm
You summarized things very well frtaylor - pullback off today's highs so far has been on light volume so could recover next week. Watch to see how it closes (gap below).
Many would have never thought to put that wedge line in there which has acted as resistance.
Overall, GDX is still in an uptrend (always difficult to pick exact tops) so trade according to your objectives and risk tolerance (that means have a proper stop in place that coincides with your risk level).
Thanks for the input -
Posted by frtaylor on 2nd of Sep 2011 at 02:44 pm
Thanks for the input - this is a very hard place for me to go long!