Cmunny, I bought a few of the miners on 3/12, looking for a
swing trade. I'm a little confused by the posts. Are
you still holding those, or are you just day trading? I see
someone calling what looks like a bull flag in silver, but the gold
rally is long in the tooth. Thoughts? Thanks.
Yes, 3/12, looked like a breakout didn't it? But they left
gaps underneath all of that pattern and filled them by smashing the
fakeout, which is why I usually focus on buying gap fills... Today,
looks like Fed has put a hold on action- there is nothing breaking
out out and the intraday on the majors looks very mixed.
There is one more undercut and gap to fill on a lot of these
stocks, but we're most of the way down on the range. Gld has
about $10 to $12 more on the downside to major support, but I would
expect the miners to have bottomed before then.
Miners
Silver, part deux
Posted by mdgfain on 19th of Mar 2014 at 01:56 pm
Cmunny, I bought a few of the miners on 3/12, looking for a swing trade. I'm a little confused by the posts. Are you still holding those, or are you just day trading? I see someone calling what looks like a bull flag in silver, but the gold rally is long in the tooth. Thoughts? Thanks.
Yes, 3/12, looked like a
Posted by cmunny on 19th of Mar 2014 at 02:04 pm
Yes, 3/12, looked like a breakout didn't it? But they left gaps underneath all of that pattern and filled them by smashing the fakeout, which is why I usually focus on buying gap fills... Today, looks like Fed has put a hold on action- there is nothing breaking out out and the intraday on the majors looks very mixed. There is one more undercut and gap to fill on a lot of these stocks, but we're most of the way down on the range. Gld has about $10 to $12 more on the downside to major support, but I would expect the miners to have bottomed before then.
Thanks.
Posted by mdgfain on 19th of Mar 2014 at 02:11 pm