If a major bottom was put in for gold/silver etc., I would have
expected at least a 5% up day for GDX -- a gap up, then
strengthening. The fact that it is underperforming gold today
is not a great sign for a sustainable rally and may signal that
this is just an oversold bounce in commodities that could reverse
at any time. Tough to call anything a trend these days as
situations seem to reverse on a daily basis.
remember I was expecting a bounce in gold and silver, none of
this is unexpected, it was so oversold and needed a bounce.
The 60 min GLD chart was oversold and needed a bounce, but
otherwise to me it looks like it sill needs to have a retracement
sometime soon. I talked about my thoughts last night
it does us no good to know to diligently review the newsletters
to expect a bounce if the damn thing, whether it be gold, oil
stocks, or the general market GAPS before the open.
For example, you made an awesome call on the oil stocks,
highlighting ERX, but the it gapped up almost 3 points from last
night's close. You can't actually make any real money that
way.
GDX not acting right
Posted by kalinm on 27th of Sep 2011 at 01:19 pm
If a major bottom was put in for gold/silver etc., I would have expected at least a 5% up day for GDX -- a gap up, then strengthening. The fact that it is underperforming gold today is not a great sign for a sustainable rally and may signal that this is just an oversold bounce in commodities that could reverse at any time. Tough to call anything a trend these days as situations seem to reverse on a daily basis.
remember I was expecting a
Posted by matt on 27th of Sep 2011 at 01:22 pm
remember I was expecting a bounce in gold and silver, none of this is unexpected, it was so oversold and needed a bounce. The 60 min GLD chart was oversold and needed a bounce, but otherwise to me it looks like it sill needs to have a retracement sometime soon. I talked about my thoughts last night
Matt, yes, but
Posted by mfogli1 on 27th of Sep 2011 at 01:51 pm
it does us no good to know to diligently review the newsletters to expect a bounce if the damn thing, whether it be gold, oil stocks, or the general market GAPS before the open.
For example, you made an awesome call on the oil stocks, highlighting ERX, but the it gapped up almost 3 points from last night's close. You can't actually make any real money that way.
24H market
Posted by lebow on 27th of Sep 2011 at 01:59 pm
BPT do have a lot of foreign clients and you can also trade in the futures market
Dun see any foreigner posting
Posted by steve88 on 27th of Sep 2011 at 02:05 pm
Dun see any foreigner posting on the blog.... dun think there's much foreigners here.