23 replies to this topic

[Echo]

By the way, there is an early June gap fill on GLD at 136.53. Next one is at 140.81 from May.
Doc

By the way again, GLD filled the 136.53 gap. Now there are three gaps below. Just this month.
Doc

[dougie]

You long Dust Now RD?

Did you notice this week's high?
EXACTLY 1434!!! (To the penny!)

Gold bugs might drool over Gary Wagner's Elliot look at the current action in gold.
He's looking at a target of $1434 in a 3rd wave rally.

http://www.kitco.com/news/video/show/Chart...$1400-Mark
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&b=5&g=0&i=p78177272540&r=1377450523130.png

Either way, I'm selling my NUGT at $2200 and buying an island next door to Selecto.
You are all invited. Bring sunscreen and those little drink umbrellas.

HOLD UP ON THOSE UMBRELLAS!
I'm calling this a "Bearish Island Reversal" on NUGT.
It was a Bearish reversal on NUGT yesterday.
And I sold the little bit of my island.

DUST looks like a Bullish Reversal.
Both on very high volume.

In fact my account looks a bit like the Devil...or Batman...

[Rogerdodger]

You long Dust Now RD?

No. Dust is only up 21% this week. Who needs that?

Honestly I have been way too busy to watch the market.
I missed the 1434 touch and it cost me a great exit point.

But these two, DUST and NUGT are great trading vehicles with lots of bang for the buck at 3X.
And Wednesday showed that they do not always mirror the action in GLD as it made and held new highs but DUST and NUGT made key reversals.

"Island" reversals.

[Russ]

Gold should go down into the end of September as I have posted on dharma's post, and so it shall be.