8 replies to this topic

[teki]

Seems like there is some resistance here at XAU 86, HUI 191, I have a good 14% profit on these shares, so I'm taking some off the table. If we break through next week, I'll probably add some positions back on. But I'll sleep better over the weekend taking some off this at this point. Sold a little less than half, still long GLG and WHT.

[hiker]

teki - fyi, some interesting thoughts on gold updated yesterday by Jack Chan at stockcharts.com, public lists link.

[teki]

hiker, thanks. I always keep on eye on JC's stuff. I've learned a lot from watching him.

[hiker]

yes....I like that he minimizes overtrading. Have a good weekend!

[mss]

hiker & teki, Need to read his update-- he has covered his shorts & taking setups on hourly only-- IMHO I think he is off the time cycle, slow pick of longs is my current position, fYIw. Will post updated chart Sat. or Sun. on BOP for HUI & XAU- best to you both, mss

[Rogerdodger]

I loved his movie with Chris Tucker in Las Vegas. Not to mention Owen Wilson"s "Shangi Noon".

[teki]

Jack went short based on the hourly XAU chart today (Monday), I went flat, and sold my remaining longs (only marginally better gains than Friday). I going to stay flat, and wait to reenter long if we break and hold above the recent highs, or if we retrace and reverse. Or if there is a clear ewave setup. Right now it looks like we did 5 little waves down from this morning highs on the HUI 5 minute chart.

[TechSkeptic]

Nice trades, teki I'm still long, but I'm starting to gradually trail my stops up. If we breakdown, I'll probably buy back my stopped out positions at lower prices (hopefully, anyway). I agree, WHT and GLG are good keepers!

[teki]

Thanks, TS - but looks like I should have been more patient with WHT, its still moving up nicely. Agree, that GLG and WHT have been relatively strong on the move up from the lows. Good luck with your longs here.