5 replies to this topic

[Mike]

Steve Saville points out in his newsletter (speculative-investor.com) that while the gold indexes share many of the same technical indicators as previous intermediate term corrections, and therefore suggest a rally from this level, the previous corrections came after general market corrections, not before. This is an interesting point and would suggest caution in adding positions with the expectation of them becoming IT rather than ST positions. A time to be nimble.

3 charts from earlier post

[teki]

Thanks for the tip. In looking at you charts today, (and I love that these live stockcharts keep updating in these posts) it looks like you dollar and euro channels were hit perfectly, and gold came close, so a bounce here fits well. But I agree that this bounce has to be viewed ST until proven otherwise, and I'll treat my exit strategy accordingly.

[hiker]

sold my gold stocks today bought on this week's lows. Was a planned short term trade, so I am simply taking profits. I have no idea where gold stocks are next going....putting $ to work elsewhere until the dust settles.

[mss]

Got out a little early?

[hiker]

[Slothrop]

Mike, he assumes we're "before" a general market correction. Maybe, maybe not.