Perth, I like your rumblings. Timing of the advance is not right
yet: give it at least one more day to rise further or consolidate.
GDX still looks frightened to move higher, so the sentiment is
still bearish.. not ripe yet to reverse. There are several of us
who'd love to short GDX, actually following its intermediate trend.
FWIW. I'll respond to your tonight, I was away from the market feed
for over a week.
Matt/Steve, are there any stats that suggest what happens after
a H&S target is reached. Does the market normally keep moving
in that direction or turn back?
Delta has short term high turning point date today for HUI, GDX
but that can still be a couple more days. But as I understand it
there are a couple conflicting rotations they use so who knows.
The next short term low is supposed to be 1/13. A friend pointed
out that gold stock indices lows seem to have been coming in the
Wednesday before options expiry, the 13th this month,
hmmmm.
Perth, I like your rumblings.
GDX
Posted by junkie on 6th of Jan 2010 at 01:39 pm
Perth, I like your rumblings. Timing of the advance is not right yet: give it at least one more day to rise further or consolidate. GDX still looks frightened to move higher, so the sentiment is still bearish.. not ripe yet to reverse. There are several of us who'd love to short GDX, actually following its intermediate trend. FWIW. I'll respond to your tonight, I was away from the market feed for over a week.
GDX turn coming in?
Posted by perthx on 6th of Jan 2010 at 01:47 pm
Matt/Steve, are there any stats that suggest what happens after a H&S target is reached. Does the market normally keep moving in that direction or turn back?
Delta has short term high turning point date today for HUI, GDX but that can still be a couple more days. But as I understand it there are a couple conflicting rotations they use so who knows.
The next short term low is supposed to be 1/13. A friend pointed out that gold stock indices lows seem to have been coming in the Wednesday before options expiry, the 13th this month, hmmmm.
perthx - personally to me
Posted by matt on 6th of Jan 2010 at 02:02 pm
perthx - personally to me GDX looks like it is forming a bull flag on the 15 min chart, so I wouldn't be surprised to see a move higher from here.
GDX 15 min ratio might
Posted by perthx on 6th of Jan 2010 at 03:18 pm
GDX 15 min ratio might be about to cross down. Not a solid signal by itself by any means but something to keep an eye on especially into tomorrow.
It has crossed on the
Posted by junkie on 6th of Jan 2010 at 03:33 pm
It has crossed on the 15 minutes, but $USD=77.48 is still too high and the 60-minute chart is fr from giving a sell signal.