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.
Taking some profits in gold stocks here
Started by
teki
, May 21 2004 03:02 PM
8 replies to this topic
#1
Posted 21 May 2004 - 03:02 PM
#2
Posted 21 May 2004 - 03:12 PM
teki - fyi, some interesting thoughts on gold updated yesterday by Jack Chan at stockcharts.com, public lists link.
#3
Posted 21 May 2004 - 03:16 PM
hiker, thanks. I always keep on eye on JC's stuff. I've learned a lot from watching him.
#4
Posted 21 May 2004 - 03:19 PM
yes....I like that he minimizes overtrading. Have a good weekend!
#5
Posted 21 May 2004 - 04:10 PM
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
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#6
Posted 21 May 2004 - 11:06 PM
I loved his movie with Chris Tucker in Las Vegas. Not to mention Owen Wilson"s "Shangi Noon".
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#7
Posted 24 May 2004 - 11:33 AM
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.
#8
Posted 24 May 2004 - 01:03 PM
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!
#9
Posted 24 May 2004 - 01:34 PM
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.