maybe it's capitulation who knows - anyway in the newsletter
last night gold was down 8 and I stated, well gold is down and I
hope that it reversed - but it didn't and continued to weaken.
One thing that concerned me was the weekly chart and bearing
morning star.
anyway I had some GDX and some GG, so it will hurt some but not
too bad
otherwise I don't take home NUGY or DUST - I don't play the 3X
ETF's overnight, too easy to get burned - and you guys should
consider doing the same, play the 1X ETF's not the 3X - you don't
need all that leverage, just gets you into trouble, I've seen that
too many times with FAZ in the past - for some reason a lot of you
guys try to swing NUGT and DUST, you should stick to GDX only and
use the 3X ETF's as day trades
yeah - unfortunately gold stocks had a 'potential' morning star
pattern yesterday, but it was not complete and not confirmed - it
needed a follow through to the upside today to confirm that pattern
and obviously that did not happen, Steve and I took a chance by
buying some yesterday with an unconfirmed morning star pattern -
gold stocks tend to gap and our hope was they would gap up instead
- dumb idea obviously LOL. And regarding Steve's tutorials,
the pattern yesterday hadn't confirmed because price didn't take
back more than 50% of the candle, so taking some yesterday was
taking a risk and kind of dumb on our part - oh well - now I'm
watching to see if they can stabilize or not - or is GDX gonna
flush down hard again. Gold metal last night concerned me. Oh
well, that's trading I guess..
GDX is now almost testing the uptrend line from June, needs to
reverse soon
Students - it's time to
Posted by steve on 11th of Sep 2013 at 03:37 pm
Students - it's time to start looking at some precious metals stocks for triggers. Tomorrow will be the day to see if they can trigger..
Bought NUGT yesterday when GDX was at 68% retracement
Posted by praetor54 on 11th of Sep 2013 at 06:21 pm
nugt
Posted by seattle on 12th of Sep 2013 at 04:03 am
Gold just crashed $23 as of 4am EST, maybe it's a raid?
maybe it's capitulation who knows
Posted by matt on 12th of Sep 2013 at 09:17 am
maybe it's capitulation who knows - anyway in the newsletter last night gold was down 8 and I stated, well gold is down and I hope that it reversed - but it didn't and continued to weaken. One thing that concerned me was the weekly chart and bearing morning star.
anyway I had some GDX and some GG, so it will hurt some but not too bad
otherwise I don't take home NUGY or DUST - I don't play the 3X ETF's overnight, too easy to get burned - and you guys should consider doing the same, play the 1X ETF's not the 3X - you don't need all that leverage, just gets you into trouble, I've seen that too many times with FAZ in the past - for some reason a lot of you guys try to swing NUGT and DUST, you should stick to GDX only and use the 3X ETF's as day trades
yeah - unfortunately gold stocks
Posted by matt on 12th of Sep 2013 at 09:45 am
yeah - unfortunately gold stocks had a 'potential' morning star pattern yesterday, but it was not complete and not confirmed - it needed a follow through to the upside today to confirm that pattern and obviously that did not happen, Steve and I took a chance by buying some yesterday with an unconfirmed morning star pattern - gold stocks tend to gap and our hope was they would gap up instead - dumb idea obviously LOL. And regarding Steve's tutorials, the pattern yesterday hadn't confirmed because price didn't take back more than 50% of the candle, so taking some yesterday was taking a risk and kind of dumb on our part - oh well - now I'm watching to see if they can stabilize or not - or is GDX gonna flush down hard again. Gold metal last night concerned me. Oh well, that's trading I guess..
GDX is now almost testing the uptrend line from June, needs to reverse soon
Drew an extra line
Posted by zitron on 12th of Sep 2013 at 11:50 am
http://stockcharts.com/h-sc/ui?s=GDX&p=60&yr=0&mn=1&dy=10&id=p12143619283&a=314899904
Drew an extra line
Posted by zitron on 12th of Sep 2013 at 10:17 am
http://stockcharts.com/h-sc/ui?s=GDX&p=60&yr=0&mn=1&dy=10&id=p12143619283&a=314899904
yes http://www.kitco.com/ind/Conner/2013-09-09-Is-the-Manipulation-in-the-Metals-about-to-Begin-Again.html
Posted by sabinemarc on 12th of Sep 2013 at 08:10 am
yes
http://www.kitco.com/ind/Conner/2013-09-09-Is-the-Manipulation-in-the-Metals-about-to-Begin-Again.html