Matt:
Today whenever GDX is below $45, there has been a lot of big
buyers in Level II and their bid is 50, 40, 30. but the ask is
always 12, 15, hardly see 50 or 40. What conclusion we can
get?
Does this mean big Institute are accumulating shares?
gyzhao - Steve already replied to you on level 2, but otherwise
technically nothing has changed with GDX, tomorrow we'll be
watching it closely
I'm closely monitoring the 60 min GDX/GLD ratio trendline; Note
with the last low there is now positive divergence potential, see
the MACD and MACD histogram
on the 60 min GDX chart, major resistance is the downtrend line,
of course one comment, the small H&S pattern inside the channel
that I discussed last night basically hit its price target of about
44.
gyzhao - I have found that price tends to move more often in the
direction of larger bids/offers but overall I don't put too much
emphasis on level II quotes - especially on liquid
stocks.
5 min GDX chart
Posted by matt on 24th of Apr 2012 at 10:17 am
GDX - Chart Link
bought just now at support
Posted by frtaylor on 24th of Apr 2012 at 10:27 am
bought just now at support (45.12). Stop below pivot.
Matt: Today whenever GDX is below
Posted by gyzhao on 24th of Apr 2012 at 03:06 pm
Matt:
Today whenever GDX is below $45, there has been a lot of big buyers in Level II and their bid is 50, 40, 30. but the ask is always 12, 15, hardly see 50 or 40. What conclusion we can get?
Does this mean big Institute are accumulating shares?
Regards,
gyzhao
gyzhao - Steve already replied
Posted by matt on 24th of Apr 2012 at 03:42 pm
gyzhao - Steve already replied to you on level 2, but otherwise technically nothing has changed with GDX, tomorrow we'll be watching it closely
I'm closely monitoring the 60 min GDX/GLD ratio trendline; Note with the last low there is now positive divergence potential, see the MACD and MACD histogram
on the 60 min GDX chart, major resistance is the downtrend line, of course one comment, the small H&S pattern inside the channel that I discussed last night basically hit its price target of about 44.
we'll see...
thanks!
Posted by gyzhao on 24th of Apr 2012 at 03:52 pm
thanks!
gyzhao - I have found
Posted by steve on 24th of Apr 2012 at 03:23 pm
gyzhao - I have found that price tends to move more often in the direction of larger bids/offers but overall I don't put too much emphasis on level II quotes - especially on liquid stocks.
thanks, steve!
Posted by gyzhao on 24th of Apr 2012 at 03:25 pm
thanks, steve!
I still have some shares
Posted by gyzhao on 24th of Apr 2012 at 03:49 pm
I still have some shares ofb GDX, NUGT and GDXJ. Tomorrow is a big day. In case gold comes down what stop loss do you suggest?
I want to use GDX $44.10; NUGT 11.3; GDXJ 21.5. are these OK for you?
June calls here
Posted by steveo on 24th of Apr 2012 at 11:18 am
June calls here