try entering at a retest of yesterday's breakdown if that
happens. Or wait for a bounce in $gold. $gold is oversold on the
weekly charts but there is no positive divergence yet. A chance to
short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like
a rocket. It's a close call out there.
Thanks! That was what I was looking at - DUST etc are now
outside the BBs on their intraday charts - I am hoping that
they either flag out or correct to an oversold level here so that I
can jump in with a tight stop. If you look at the daily chart you
can see that we flagged out this past week at the exact place we
flagged out on the way up - I suspect this symmetry to be repeated
and we hit the summer lows before we get a bounce and see "what is
what". That is about 6-7% lower from here.
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Title: be careful shorting around
GDX
Posted by junkie on 18th of Sep 2014 at 07:43 am
try entering at a retest of yesterday's breakdown if that happens. Or wait for a bounce in $gold. $gold is oversold on the weekly charts but there is no positive divergence yet. A chance to short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like a rocket. It's a close call out there.
Thanks! That was what I
Posted by hastur on 18th of Sep 2014 at 07:56 am
Thanks! That was what I was looking at - DUST etc are now outside the BBs on their intraday charts - I am hoping that they either flag out or correct to an oversold level here so that I can jump in with a tight stop. If you look at the daily chart you can see that we flagged out this past week at the exact place we flagged out on the way up - I suspect this symmetry to be repeated and we hit the summer lows before we get a bounce and see "what is what". That is about 6-7% lower from here.