Like there was said earlier today, a big move in metals can be
expected. The underperformance of goldstocks could suggest a move
down, but I hope of course it's going up.
GLD is still edging higher without conviction, at least broke
out of a small downtrendline but I suppose the bigger battle is
around 164 or 1700 $.
It probably makes sense to look at the Aussi Dollar. Below
resistance at the moment but it looks that the Aussie could break
up. Maybe this will happen before gold and goldstocks react, so a
break here could be the starting signal to pile up goldstocks.
In case of a break there could be a very large swing long.
Matt/Steve, you are expecting a bigger move in GDX. What
strategy would you suggest? Waiting for a break and then
buying/selling the break? Waiting for the first bullback?
Or acting (in my case buying...) before the probable
breakout with a tight stoploss?
opinions welcomed....
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Gold ---- Aussiedollar
Posted by zwyss on 15th of Jan 2013 at 04:43 pm
Like there was said earlier today, a big move in metals can be expected. The underperformance of goldstocks could suggest a move down, but I hope of course it's going up.
GLD is still edging higher without conviction, at least broke out of a small downtrendline but I suppose the bigger battle is around 164 or 1700 $.
It probably makes sense to look at the Aussi Dollar. Below resistance at the moment but it looks that the Aussie could break up. Maybe this will happen before gold and goldstocks react, so a break here could be the starting signal to pile up goldstocks.
In case of a break there could be a very large swing long.
Matt/Steve, you are expecting a bigger move in GDX. What strategy would you suggest? Waiting for a break and then buying/selling the break? Waiting for the first bullback? Or acting (in my case buying...) before the probable breakout with a tight stoploss?
opinions welcomed....