Edited by goldswinger, 02 September 2009 - 02:14 PM.
GDX - TA
Started by
Mike
, Sep 01 2009 02:28 PM
29 replies to this topic
#21
goldswinger
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Posted 02 September 2009 - 02:09 PM
needs to clear 380 and change on $HUI. I it will likely revert around there.....
GS.
#22
stocks
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Posted 02 September 2009 - 03:29 PM
Most breakouts are fades.
-- -
Defenders of the status quo are always stronger than reformers seeking change,
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
Defenders of the status quo are always stronger than reformers seeking change,
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
#23
gvc
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Posted 02 September 2009 - 03:45 PM
sorry.. I dont see a breakout. I only see a touch of the upper triangle trendline.
I believe the breakout he is referring to is that in the GDX, the chart in the first post in this thread.
-MK
ok.. gdx then,, I still dont see a breakout
#24
skott
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Posted 03 September 2009 - 11:21 AM
I luv the disbelief
#25
inamosa
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Posted 03 September 2009 - 12:15 PM
This breakout looks real
We've seen good follow through so far today
I'm long a partial position on GDX...still considering where to put stop
This is the fourth time we've hit $990 since March 2008...to me, the chance of this being a real breakout is quite high and definitely worth betting on
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#26
diogenes227
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Posted 03 September 2009 - 12:18 PM
hi diogenes227,
Gotta say I haven't traded this sector since April (missed that big rally into May ) but I've enjoyed watching you guys have all this fun.
The reason why I am paying attention right now is that this could be a continuation pattern for the sector and a retest of the highs is in store (would confirm LT bull IMO right here), or a big failure is setting up into a good cycle low. I don't know which way it will go, but that is what is at stake here.
The better LT buy for me will be later this year.
cheers,
john
john,
Thanks for saying pay attention yesterday. Much appreciated. This is quite a nice day.
Best to you.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#27
SilentOne
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Posted 03 September 2009 - 12:47 PM
hi diogenes227,
Well the long term bull for PMs is pretty much confirmed IMO. A rally to retest the HUI highs this late in a 56 week cycle is confirmation (to have been bearish, we would have needed to see a breakdown this week which we did not see). Now it will be a challenge to find a better entry position (and bigger position in my case) if/when this sector corrects into the fall. HUI still has potential up to 467 which I get off a Gann chart. I don't know if that potential target is reached this year or not.
Good trading to you.
cheers,
john
The cycle situation is this. If PMs are putting in another primary cycle low right here this week and then attack the highs of this year, it confirms the bull but you'd have to sell the next high as a good correction into a 56 week cycle low is still out there.
Well the long term bull for PMs is pretty much confirmed IMO. A rally to retest the HUI highs this late in a 56 week cycle is confirmation (to have been bearish, we would have needed to see a breakdown this week which we did not see). Now it will be a challenge to find a better entry position (and bigger position in my case) if/when this sector corrects into the fall. HUI still has potential up to 467 which I get off a Gann chart. I don't know if that potential target is reached this year or not.
Good trading to you.
cheers,
john
Edited by SilentOne, 03 September 2009 - 12:52 PM.
"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
#28
dougie
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Posted 04 September 2009 - 02:13 AM
475 on this short sharp move imo
#29
skott
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Posted 04 September 2009 - 10:50 AM
qvc, do you see the breakouts now? very strong when you have a market surge a huge amount and then follow it with a confirming 5% up day. it's on. there will be sharp pullbacks, the thing that worries me is the 72 day cycle
#30
inamosa
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Posted 04 September 2009 - 05:36 PM
Hulbert thinks this time is different...
Attached Thumbnails
Edited by Aly, 04 September 2009 - 05:37 PM.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
