News driven (no-taper) created a quick burst (aiding by short
covering) but the gold rally was halted at resistance discussed in
last night's newsletter. The quick pop did not allow much
support to develop and the subsequent move down has been quite
deep. Adhere to your stops and wait for a trading pattern to
develop. With price back below the MA's the onus is on the
bulls.
Gdx
Posted by sabinemarc on 20th of Sep 2013 at 10:16 am
Is this "correction" normal? Very violent for a consolidation, no?
GDX and GLD
Posted by steve on 20th of Sep 2013 at 10:51 am
News driven (no-taper) created a quick burst (aiding by short covering) but the gold rally was halted at resistance discussed in last night's newsletter. The quick pop did not allow much support to develop and the subsequent move down has been quite deep. Adhere to your stops and wait for a trading pattern to develop. With price back below the MA's the onus is on the bulls.
looks like it may give
Posted by john9o9 on 20th of Sep 2013 at 10:23 am
looks like it may give back all gains from the "taper caper"?