Going long $Yen...
I think gold is about to break down.
Posted 11 October 2016 - 09:49 AM
Going long $Yen...
I think gold is about to break down.
Posted 11 October 2016 - 10:02 AM
Long gold (spot 1255) and short SPX (cash 2146) with tight stops.
Edited by Smithy, 11 October 2016 - 10:06 AM.
Posted 11 October 2016 - 10:03 AM
Going long $Yen...
I think gold is about to break down.
I actually think gold has 5 up hourly from last weeks low to its recovery high for wave i or a, IMO even if bearish it looks like we need another near term leg up and given that the GDX does look to have ended a post triangle thrust this morning, if correct at least a further bounce appears likely, that does not mean we aren't eventually going lower but perhaps a bit more sideways to upside first. Also we saw some significant bullish divergences across a slew of near term technical gauges and gold after one brief spike down has held that key 1250 support area, I don't mind being a bit long here and ready to exit if I don't like what I see
BSing away
Senor
Posted 11 October 2016 - 11:54 AM
exited GDX for minor gain, just being very careful here
Senor
Posted 11 October 2016 - 12:14 PM
exited GDX for minor gain, just being very careful here
Senor
GDX/HUI basically rallied right back to the apex in what looks like corrective action and now fading, happy to be out and will be muy careful here as another leg down could occur. Hard to get too bearish given the oversold condition but another final washout leg down "might" be ideal, we see
BSing away
Senor
Posted 11 October 2016 - 01:11 PM
Posted 11 October 2016 - 01:22 PM
Thank you for your insights here
you are welcome, it's tough here and hard to be patient, but I do remember (school of hard knocks) that the metals seem to go further down and washout harder than I think possible/likely, and if this is a wave 2 then that should not really surprise us
NO BS
Senor
Posted 11 October 2016 - 04:10 PM
Eric Hadik's public info calls for gold down into Nov. 7 - 18.
Posted 12 October 2016 - 08:41 AM
took another trading stab at GDX at 22.62, will use a fairly tight stop - smallish position. I think it either works soon or I am out very quickly
Senor
Posted 12 October 2016 - 09:32 AM
Took short term profits on $YEN Long ahead of F'ed crooks today...