23 replies to this topic

[beta]

GLD failed to break out over 170 on stronger weekly volume. Volume off the top last week, and this week inside on lighter volume, that's a transition candle. 162.07 weekly support is all that's holding it here.

Just tested 162.01 here on BLOWOUT VOLUME.

IF GLD falls < 157.5 (DTL - see daily chart), it's time to SHORT the beast ==> tgt 142.

Edited by beta, 21 December 2012 - 01:10 AM.

[DrSP]

Gold is 0.5% down but accumulation going on. Could pop end of trading today or by Monday. I expect 1670 - 1675$ before down leg starts. Today is not part of the down leg. We are still in consolidation.

[beta]

Gold is 0.5% down but accumulation going on. Could pop end of trading today or by Monday. I expect 1670 - 1675$ before down leg starts. Today is not part of the down leg. We are still in consolidation.

Exited Jan calls. I do not like the weekly/monthly charts here.

Lunar New Year comes early Feb 10 ---look for gold trade's bottom/runup start in mid-late January, good time to re-enter positions.

[beta]

Gold is 0.5% down but accumulation going on. Could pop end of trading today or by Monday. I expect 1670 - 1675$ before down leg starts. Today is not part of the down leg. We are still in consolidation.

Exited Jan calls. I do not like the weekly/monthly charts here.

Lunar New Year comes early Feb 10 ---look for gold trade's bottom/runup start in mid-late January, good time to re-enter positions.

BHP finally cracked today, and RIO Tinto chart is a sick puppy.

I will be looking for a long entry on SMN next week.

Commodities have been the last hiding place for the bullz --but so far, NOTHING has decoupled.