Jump to content



Photo

$BPGDM-GDX Trend following daily chart


  • Please log in to reply
8 replies to this topic

#1 johngeorge

johngeorge

    Member

  • TT Member+
  • 4,122 posts

Posted 22 September 2009 - 02:49 AM

Red/Green line = $BPGDM
Blue line= 8 ema
Solid Green line= GDX

Looks bearish to me with 8 ema and stochastics crossovers along with the MACD negative divergence. :bear: Holding my DZZ position. :yes:

Good trading to all.

http://stockcharts.com/c-sc/sc?s=$BPGDM&p=D&yr=0&mn=6&dy=0&i=p90113579252&are=3574.png
Peace
johngeorge

#2 dougie

dougie

    Member

  • Traders-Talk User
  • 4,755 posts

Posted 22 September 2009 - 11:36 AM

nice chart that we will see wont we

#3 redbrush

redbrush

    Member

  • Traders-Talk User
  • 51 posts

Posted 23 September 2009 - 06:34 AM

http://www.businessi...are-long-2009-9

#4 johngeorge

johngeorge

    Member

  • TT Member+
  • 4,122 posts

Posted 23 September 2009 - 06:57 AM

http://www.businessi...are-long-2009-9


redbrush

Just a heads up. That site was blocked by my Malwarebytes antivirus program.
Peace
johngeorge

#5 redbrush

redbrush

    Member

  • Traders-Talk User
  • 51 posts

Posted 23 September 2009 - 07:22 AM

FWIW - Here is the article. Gold Market: Almost 100% Of Money Managers Are Long Vincent Fernando|Sep. 22, 2009, 8:54 AM | 1,294 |comment18 Print Tags: Investing, Money, Commodities If you are long gold, you're no contrarian. U.S. Commodity Futures Trading Commission (CFTC) data shows that the net long position of speculators in gold has reached an all-time high of 93.6%. Worse yet, nearly 100% of money manager speculators within this data, such as gold-related index funds and managed accounts, are long gold. There's a dearth of traditional market players on the long side. Which has caused some professional traders to worry they might run out of people to sell to, once investment funds' buying interest is exhausted. Hard Assets Investor: For now, there seems plenty of contracts on offer by others in the gold trading ring as commercials and swap dealers got even shorter last week. Even large noninstitutional traders and small speculators lightened up their net long exposure by taking some money off the table. Open interest is still building in gold futures, so new traders are entering the fray. But, with every trader category getting shorter, and only money managers as net buyers, you've gotta ask yourself: "What do these guys know ... or think they know?"

#6 SilentOne

SilentOne

    Member

  • Traders-Talk User
  • 3,385 posts

Posted 23 September 2009 - 11:29 AM

Gold Market: Almost 100% Of Money Managers Are Long


That's pretty much why I am not comfortable being mega invested in gold or gold stocks right now. When things are this crowded, it is never a good sign. Sure one can hold onto your gold coins, but a big breakout for gold right here is going to be hard to see.

I remember last year when oil was attacking the 140s. One of my brokers at the time was interviewing all the fund managers and hedgies. Every single one was long energy stocks and uber bullish. This was late May and June. That is what prompted me to start this thread below. We all know what happened next ...

http://www.traders-t...?...=88821&st=0

cheers,

john

Edited by SilentOne, 23 September 2009 - 11:35 AM.

"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#7 dharma

dharma

    Member

  • Traders-Talk User
  • 5,890 posts

Posted 23 September 2009 - 01:59 PM

@this point , this is not a good sign in the run , it is normal we aint there yet. caution is in order i have raised cash, as i have stated dharma

#8 dougie

dougie

    Member

  • Traders-Talk User
  • 4,755 posts

Posted 23 September 2009 - 02:03 PM

when specs are on the right side (was it 2005-6) things can go on for a while folks

#9 johngeorge

johngeorge

    Member

  • TT Member+
  • 4,122 posts

Posted 23 September 2009 - 09:11 PM

Something else to consider. http://www.traders-talk.com/mb2/index.php?s=&showtopic=111245&view=findpost&p=484214

Good trading to all.

Peace
johngeorge