I don't trade GDX but use it as a proxy for Canadian gold ETF's.
Looks like the gap up today might want to be filled if the MACD
curls down. On the other hand it is forming a small bullish wedge
and the VIX is coming down.
Spot gold and silver holding up but stocks not keeping up
so far.
S&P is strong today which should keep gold going.
Don't know if I should go long gold for a day
trade, short for a swing trade or stand aside for now.
maybe you should buy a little with a stop loss. then add to it
as it strengthens. That's what I am doing with the XGD.TO. I use
the GDX for my signals as well.
GDX 15
Posted by Palladin on 4th of Jan 2010 at 11:15 am
I don't trade GDX but use it as a proxy for Canadian gold ETF's. Looks like the gap up today might want to be filled if the MACD curls down. On the other hand it is forming a small bullish wedge and the VIX is coming down.
Spot gold and silver holding up but stocks not keeping up so far.
S&P is strong today which should keep gold going.
Don't know if I should go long gold for a day trade, short for a swing trade or stand aside for now.
Just my trading thoughts for today.
maybe you should buy a
Posted by cal1 on 4th of Jan 2010 at 12:45 pm
maybe you should buy a little with a stop loss. then add to it as it strengthens. That's what I am doing with the XGD.TO. I use the GDX for my signals as well.
True enough, but decided to
Posted by Palladin on 4th of Jan 2010 at 12:54 pm
True enough, but decided to go short a little via HGD as I picked up a profit this morning and the charts suggest an intraday reversal.
In all honesty, I should be staying aside. but i'm playing small potatoes for now for entertainment!