23 replies to this topic

[senorBS]

Well... somebody might be interested to know that GLD... GAPPED DOWN ON STRONG VOLUME today.

so we have classic signs of PRICE REJECTION.

http://stockcharts.com/c-sc/sc?s=GLD&p=D&yr=0&mn=1&dy=0&i=t49224435842&r=1376411562274$.png

si, finished initial wave up from 1271 IMO, 1315 plus or minus a few is a bueno place to look for a corrective low and then the next rally is a tres wave and blows thru 1350 resistance, that is this old hombre's opinion

BSing away

Senor

my next target area is 1441 unless prices undergo a decline below 1345-1350

BSing away

Senor

[tria]

My next time target is early this week. I do not know if price target is near 1400 or near 1441. I will sell in any case early next week my remaining trading positions. The core position stays untouched for the long run. -tria

[Rogerdodger]

Comex Gold Nears $1,400/Oz After Surprisingly Soft U.S. Home Sales
"a much weaker-than-forecast report on sales of new U.S. homes created new doubts about how quickly the Federal Reserve might taper its quantitative easing program.
The U.S. dollar and Treasury yields weakened, which in turn tends to support gold."

I liked all the negativity following the original post:

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

Now we are $60 higher and only $37 away.
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&b=5&g=0&i=p78177272540&r=1377450523130.png

Jack Chan's chart makes me think any pullback in the days ahead should be must be contained by GLD's 130ish gap area and the long trendline.
http://stockcharts.c...53245&r=908.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.

http://stockcharts.c...77451024377.png

Edited by Rogerdodger, 25 August 2013 - 01:13 PM.

[Echo]

I was wondering why they reverse split NUGT 10:1 all the way up to the 90s from 9s unless they though it was destined to drop back down a bunch. Seems to me that a 4 or 5:1 rev split would have traditionally been done to bring it into the 35-45 range for the ETF. Just seemed odd to me. Doc

[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

Edited by Echo, 25 August 2013 - 01:26 PM.

[dougie]

If NUGT does another couple 10 for 1 splits you are there amigo!

Where is that 130 ish gap?

Comex Gold Nears $1,400/Oz After Surprisingly Soft U.S. Home Sales
"a much weaker-than-forecast report on sales of new U.S. homes created new doubts about how quickly the Federal Reserve might taper its quantitative easing program.
The U.S. dollar and Treasury yields weakened, which in turn tends to support gold."

I liked all the negativity following the original post:

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

Now we are $60 higher and only $37 away.
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&b=5&g=0&i=p78177272540&r=1377450523130.png

Jack Chan's chart makes me think any pullback in the days ahead should be must be contained by GLD's 130ish gap area and the long trendline.
http://stockcharts.c...53245&r=908.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.

http://stockcharts.c...77451024377.png

[Echo]

June 6th it closed at 136.53. June 7th it gapped down and has never filled that gap. Close now. Doc

[diogenes227]

I was wondering why they reverse split NUGT 10:1 all the way up to the 90s from 9s unless they though it was destined to drop back down a bunch. Seems to me that a 4 or 5:1 rev split would have traditionally been done to bring it into the 35-45 range for the ETF.
Just seemed odd to me.
Doc

When they announced the reverse split NUGT was at seven dollars and change. A week before that it was at five and a half dollars. So about the time they were thinking about it, it was about where they might have thought it would be in the 40-50 range. And by the time the split went into place...

LOL. The well laid plans of mice and men and all that...

And now take a look at the split in DUST.

[dougie]

DUST looking tempting here: hourly divergences

[Rogerdodger]

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...

Edited by Rogerdodger, 28 August 2013 - 11:01 PM.