Posted by praetor54 on 7th of Nov 2014 at 09:09 pm
I was watching the gold futures last night and right at 12:00
they dropped $10, attempted to rally failed and then at 1:30 they
spiked into positive territory and continued higher. When ever you
get a big move up after such a large drop, you have to assume it's
short covering. This is why you wait for a higher low before taking
a swing. GDX and GDXJ sliced through their 9 EMA while gold almost
touched it. This may be all it's got which is why is sold my
juniors at today.
Gold: Hedgers got longer &
Posted by a_l_ on 7th of Nov 2014 at 04:15 pm
Gold: Hedgers got longer & covered shorts near the lows; Speculators sold longs and added to shorts. Classic.
When was that chart available?
Posted by disciple33 on 7th of Nov 2014 at 04:21 pm
I see the Nov. 4th date, but when was this report available for the average trader?
Gold Short Covering
Posted by praetor54 on 7th of Nov 2014 at 09:09 pm
I was watching the gold futures last night and right at 12:00 they dropped $10, attempted to rally failed and then at 1:30 they spiked into positive territory and continued higher. When ever you get a big move up after such a large drop, you have to assume it's short covering. This is why you wait for a higher low before taking a swing. GDX and GDXJ sliced through their 9 EMA while gold almost touched it. This may be all it's got which is why is sold my juniors at today.
30 minutes ago
Posted by a_l_ on 7th of Nov 2014 at 04:23 pm
30 minutes ago