just how overbought are Gold and Silver right now (short-term),
i.e. should one close a position today in expectation of a decent
pullback perhaps tomorrow, or overnight in the Asian session, or
would you recommend just leaving it open overnight with a generous
stop in place?
that depends on you and what your goals are and the type of
trader you are. I'm a short term trade and so I just play the
GDX based off the signals for short term trades.
For Swing traders, there is no change in trend yet, have stops
in place and hold the positions, or take 1/3 to 1/2 off the table
if you want etc.
the point is, there is no one answer here since I don't know how
you are playing them
Thanks Matt. I'm also a short-term trader, and to me it looks as
though we might very well get a sell signal from the 15 min GDX:GLD
ratio at the lopen tomorrow, hence my question. I think I might
just cash in and wait for the next entry.
Matt / Steve
Posted by isplat on 8th of Oct 2009 at 03:45 pm
just how overbought are Gold and Silver right now (short-term), i.e. should one close a position today in expectation of a decent pullback perhaps tomorrow, or overnight in the Asian session, or would you recommend just leaving it open overnight with a generous stop in place?
that depends on you and
Posted by matt on 8th of Oct 2009 at 03:50 pm
that depends on you and what your goals are and the type of trader you are. I'm a short term trade and so I just play the GDX based off the signals for short term trades.
For Swing traders, there is no change in trend yet, have stops in place and hold the positions, or take 1/3 to 1/2 off the table if you want etc.
the point is, there is no one answer here since I don't know how you are playing them
Thanks Matt. I'm also a
Posted by isplat on 8th of Oct 2009 at 03:55 pm
Thanks Matt. I'm also a short-term trader, and to me it looks as though we might very well get a sell signal from the 15 min GDX:GLD ratio at the lopen tomorrow, hence my question. I think I might just cash in and wait for the next entry.
I show that the GDX
Posted by stevedfw on 8th of Oct 2009 at 04:01 pm
I show that the GDX 60min went short at close today.
Interesting how the trend line
Posted by seadelight on 8th of Oct 2009 at 04:11 pm
Interesting how the trend line and the 20ema cross where the gdx/gld ratio line passes through.
Forgot to mention
Posted by isplat on 8th of Oct 2009 at 03:57 pm
I am talking about trading the metal, not mining company shares, if that makes a difference.