31 replies to this topic

[SemiBizz]

Gotta take my shot at these important pivots. Busting 1251 to the upside opens up a modest higher target at 1281. I'm looking for new lows here 1125 next good support.

[dougie]

thanks for sharing

[senorBS]

I understand the trade if done with a relatively tight stop, if bearish could be ending an abc rally at this 1250-1260 area, I "prefer" the upside but there is yet no decisive action Senor

[SemiBizz]

Gold is in a bear market. It makes perfect sense to trade in the direction of the Trend when you hit resistance... You set your stops tight, because you can always be wrong or the timing isn't right. But the price is the price, and the price is right here. I have to take my shot.

[JGUITARSLIM]

GDXJ up over 5% on volume today. Hmmm...

[senorBS]

GDXJ up over 5% on volume today. Hmmm...

I think GG's attempted buyout is spurring this sector, besides the other potential bullish stuff

Senor

Edited by senorBS, 13 January 2014 - 01:15 PM.

[SemiBizz]

GDXJ up over 5% on volume today. Hmmm...

If it doesn't break that 11/20 high of 34.93 with the projected daily stronger volume, that's a sign of weakness...

Nothing new there... that's what we see in the broader market - high volume distribution.

Edited by SemiBizz, 13 January 2014 - 01:43 PM.

[senorBS]

GDXJ up over 5% on volume today. Hmmm...

If it doesn't break that 11/20 high of 34.93 with the projected daily stronger volume, that's a sign of weakness...

Nothing new there... that's what we see in the broader market - high volume distribution.

gold is above 1251 - are you out of short?

Senor

[SemiBizz]

GDXJ up over 5% on volume today. Hmmm...

If it doesn't break that 11/20 high of 34.93 with the projected daily stronger volume, that's a sign of weakness...

Nothing new there... that's what we see in the broader market - high volume distribution.

gold is above 1251 - are you out of short?

Senor

not yet, that would be too tight.

Catching a flight, see you tomorrow.

[Russ]

You tried to short this market earlier at lower prices but that was blown through, seems you are on the wrong side of the market at least until the top of the down trend channel, if the bulls are right it will blow right through that and gold would head up to $1450 or so, I am agnostic on this once it gets to the top of the channel that will be critical, I do think gold will go down to test $1000 or lower eventually though as I have stated on this board.