Well I'm happy that I at least threw a list of gold stocks here
last night, I hope these helped you guys, I wanted to send out a
video but it was too late, but nice job to those of you were were
Long gold stocks coming into today or even those who bought in the
morning. Also congrats to those who held their shorts
Eventually the market is going to capitulate and give us a
bottom, could be very very soon. We need to start looking
where to exit. Our targets to the down side are the 62%
retracement on the SPX and Dow etc.
You don't need to get the last 10 cents or the exact bottom,
start scaling out. Eventually wet get a wash out
covered my shorts into the close today, I was short SSO
primarily, also long SDS. VIX 36.40, didn't want to get
greedy.... think we could be in a crash window though so may
reshort a bounce...
Gold stocks rocking today, I took quite a few home and bought
more today, not sure yet how far they go, here's a daily
chart of GDX,the top of the channel is a target and an area where they
could struggel
I see the resistance at the upper channel trendline and the
20-SMA. But, any thoughts where GDX would be when 60-period
stoch gets to 50 and 80? If it's in the same range as the upper
trendline and 20-SMA that's pretty strong confirmation. But if GDX
needs to get higher than that to get to 50 or 80 on 60-period stoch
I'd like to know that too.
That's why I said I think GDX is likely to pause at resistance,
then maybe have some pullback to form a higher low, whichw would
allow the 60 period stochastic to catch up, then you would get a
double buy signal on a break of the channel and stochstics, may or
may not happen that way, just a possibility that I could see
occuring
Posted by junkmaylbox on 17th of Sep 2008 at 10:53 am
Matt, So when would you recommend buying gold stocks: at a
dropback, after breaking out of the channel, if at all? I have none
at the moment, am waiting to see clear waters before I commit.
Posted by junkmaylbox on 17th of Sep 2008 at 10:13 am
Matt, You call on another opportunity to take profits in SKF was
spot-on. I don't know how you knew it but it worked wonders for me.
I shorted SKF at 130 and SMN at 45, and now both have dropped by 5
%. Another thousand in my depleted but recovering account today,
thanks to you!
Roy, it may go way up today, I'm just stating this because if
someone is Long SKF and they are nervous, they had the opportunity
to reduce position size so they could feel better. Heck even
I don't like holding SKF overnight so just pointing it out, but so
far so good!
Posted by junkmaylbox on 17th of Sep 2008 at 10:50 am
Matt, Would you please report your experience with tradestation
after a few days? I might bank on it if you are completely
satisfied. I trust your judgment on it :-))
Posted by rgoodwin on 17th of Sep 2008 at 10:57 am
Junk - I use TS and have been pretty happy HOWEVER I was having
trouble some days during high volume periods. I finally spoke to
one of the supervisors in software. He gave me a few suggestions to
help but one thing he said seems to have helped another customer
was to be sure you have a CURRENT, ethernet car. If your computer
is new - no problem. Mine is about 2 years old.
I don't know the program as well as I am sure Matt will
learn it but it functions pretty darn well and now that I have
taken a couple of their suggestions, I think the bogdown I was
experiencing will correct.
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Gold Stocks with Charts
Posted by matt on 16th of Sep 2008 at 10:34 pm
Here's a list of what I think are the best looking gold stocks hopefully this helps those of you who are into gold stocks
ABX Daily - nice well-defined downtrend channel
ABX weekly - nice how it's forming hammers at weekly support
BVN Daily - nice channel with divergence
BVN Weekly - nice hammers off weekly support
AUY Daily
AUY Weekly - Finding support at weekly support area
GG Daily - Channel Wedge with divergence
GFI Daily - Channel with divergence
HMY Daily - Breaking channel on volume and the gold ratio as well
DROOY Daily - Well defined downtrend channel at support
Well I'm happy that I
Posted by matt on 17th of Sep 2008 at 05:13 pm
Well I'm happy that I at least threw a list of gold stocks here last night, I hope these helped you guys, I wanted to send out a video but it was too late, but nice job to those of you were were Long gold stocks coming into today or even those who bought in the morning. Also congrats to those who held their shorts
Eventually the market is going to capitulate and give us a bottom, could be very very soon. We need to start looking where to exit. Our targets to the down side are the 62% retracement on the SPX and Dow etc.
You don't need to get the last 10 cents or the exact bottom, start scaling out. Eventually wet get a wash out
covered my shorts into the
Posted by trade on 17th of Sep 2008 at 07:22 pm
covered my shorts into the close today, I was short SSO primarily, also long SDS. VIX 36.40, didn't want to get greedy.... think we could be in a crash window though so may reshort a bounce...
Gold stocks rocking today, I
Posted by matt on 17th of Sep 2008 at 10:10 am
Gold stocks rocking today, I took quite a few home and bought more today, not sure yet how far they go, here's a daily chart of GDX, the top of the channel is a target and an area where they could struggel
Now that GDX is on
Posted by lsherrer on 17th of Sep 2008 at 10:16 am
Now that GDX is on the move, is it time to make long-term investments in the metal?
Is gold finished with its mini-bear cycle?
long term gold
Posted by ben08 on 17th of Sep 2008 at 01:00 pm
I was wondering the same thing for my 401k Gold fund that you must hold 30 days, if Matt thinks this rally will last a while
I see the resistance at
Posted by vardog on 17th of Sep 2008 at 10:48 am
I see the resistance at the upper channel trendline and the 20-SMA. But, any thoughts where GDX would be when 60-period stoch gets to 50 and 80? If it's in the same range as the upper trendline and 20-SMA that's pretty strong confirmation. But if GDX needs to get higher than that to get to 50 or 80 on 60-period stoch I'd like to know that too.
That's why I said I
Posted by matt on 17th of Sep 2008 at 10:50 am
That's why I said I think GDX is likely to pause at resistance, then maybe have some pullback to form a higher low, whichw would allow the 60 period stochastic to catch up, then you would get a double buy signal on a break of the channel and stochstics, may or may not happen that way, just a possibility that I could see occuring
Matt, So when would you
Posted by junkmaylbox on 17th of Sep 2008 at 10:53 am
Matt, So when would you recommend buying gold stocks: at a dropback, after breaking out of the channel, if at all? I have none at the moment, am waiting to see clear waters before I commit.
DIG
Posted by rkbafna on 17th of Sep 2008 at 10:12 am
Matt, any upside target for DIG?
Gold stocks doing nicely today! I
Posted by matt on 17th of Sep 2008 at 09:54 am
Gold stocks doing nicely today!
I hope my gold stock list helped, nice clean chart
Matt, your GOLD charts are
Posted by rkbafna on 17th of Sep 2008 at 10:03 am
Matt, your GOLD charts are just amazing!!! THANK YOU
Matt's call on SKF
Posted by junkmaylbox on 17th of Sep 2008 at 10:13 am
Matt, You call on another opportunity to take profits in SKF was spot-on. I don't know how you knew it but it worked wonders for me. I shorted SKF at 130 and SMN at 45, and now both have dropped by 5 %. Another thousand in my depleted but recovering account today, thanks to you!
Roy, it may go way
Posted by matt on 17th of Sep 2008 at 10:21 am
Roy, it may go way up today, I'm just stating this because if someone is Long SKF and they are nervous, they had the opportunity to reduce position size so they could feel better. Heck even I don't like holding SKF overnight so just pointing it out, but so far so good!
Matt, Would you please report
Posted by junkmaylbox on 17th of Sep 2008 at 10:50 am
Matt, Would you please report your experience with tradestation after a few days? I might bank on it if you are completely satisfied. I trust your judgment on it :-))
TradeStation
Posted by rgoodwin on 17th of Sep 2008 at 10:57 am
Junk - I use TS and have been pretty happy HOWEVER I was having trouble some days during high volume periods. I finally spoke to one of the supervisors in software. He gave me a few suggestions to help but one thing he said seems to have helped another customer was to be sure you have a CURRENT, ethernet car. If your computer is new - no problem. Mine is about 2 years old.
I don't know the program as well as I am sure Matt will learn it but it functions pretty darn well and now that I have taken a couple of their suggestions, I think the bogdown I was experiencing will correct.