Precious Metals stock index prices are currently diverging with today's gold and silver price decline as we finally begin the (final?) challenge of the June price lows.
So...with the Precious Metals BPI leading higher, compression on the daily EMA's, and a favorable cyclical pattern, it could be a buy point here in spite of the sloppy internals.
Worth a nibble...so taking a long entry with a stop at .10 below the August 5th lows to allow this sector to prove itself before moving in more aggressively.
Good trading!
Fib
Could Be...Might Be...
Started by
fib_1618
, Sep 02 2014 01:00 PM
19 replies to this topic
#1
fib_1618
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Posted 02 September 2014 - 01:00 PM
Better to ignore me than abhor me.
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#2
risk_management
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Posted 02 September 2014 - 02:46 PM
Interesting and thank you for sharing because I think this is where folks throw in a towel.
#3
fib_1618
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Posted 02 September 2014 - 02:54 PM
Oh...and that too!...because I think this is where folks throw in a towel.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#4
dharma
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Posted 02 September 2014 - 03:00 PM
discouraging , dissappointing, agree, looking for a capitulationInteresting and thank you for sharing because I think this is where folks throw in a towel.
dharma
#5
fib_1618
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Posted 02 September 2014 - 03:24 PM
Double bottoms are like that.discouraging , disappointing, agree, looking for a capitulationInteresting and thank you for sharing because I think this is where folks throw in a towel.
Looks like a final flush took place in the last 2 minutes today...we should know if this is a good call or not by Thursday.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
#6
diogenes227
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Posted 02 September 2014 - 05:31 PM
How bad was it in the PM stocks today? Those that tried to follow the GDX attempt to turn yesterday, got clobbered today.
And given that the sector has been on a bounce since June, there's a good chance this bounce is done and it's back to the bear. Methinks, this is ugly stuff for bulls.
(Yellow on the chart below is a buy, red is a sell or short).
And given that the sector has been on a bounce since June, there's a good chance this bounce is done and it's back to the bear. Methinks, this is ugly stuff for bulls.
(Yellow on the chart below is a buy, red is a sell or short).
Edited by diogenes227, 02 September 2014 - 05:33 PM.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#7
dougie
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Posted 02 September 2014 - 11:45 PM
ugly indeed.
can someone please point to a weekly sell signal in stochs that was rejected in the last 5 years?
#8
Russ
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Posted 03 September 2014 - 12:14 AM
ugly indeed.
can someone please point to a weekly sell signal in stochs that was rejected in the last 5 years?
How can it be a weekly sell signal when the week is not over yet?
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
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"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#9
dougie
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Posted 03 September 2014 - 01:17 AM
the weekly sell from early July
it hasn't lied so far.
#10
dougie
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