XAU is getting punished today
Started by
Chilidawgz
, May 24 2006 10:24 AM
23 replies to this topic
#21
Sentient Being
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Posted 25 May 2006 - 06:15 PM
My buy on NEM at yesterdays high filled and we are off to the races. God, I'm now 40% back into the stockmarket. Something somewhere better be the real deal or I'm gonna get slapped!
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#22
beta
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lasergirl
Posted 25 May 2006 - 08:40 PM
Chili wrote: "got greedy and sold half my positions on close
Tight stops, will let the market take me out for now...lately I am trading much shorter time frames."
Good trading, Chili !
_________________
... quick thought on gaps: both GG/GLG charts now sport TWO downside gaps off the Friday lows.
Therefore, if XAU/HUI gap up on Friday am (#3), it may be more likely that they draw an "exhaustion candle" by the end of day than continue up. Unless you are daytrading, I would be cautious about committing new money buys here, esp. given the holiday weekend context ... took another 15% off the table today and bought GG OTM calls instead ...
More on gaps later ---
Tight stops, will let the market take me out for now...lately I am trading much shorter time frames."
Good trading, Chili !
_________________
... quick thought on gaps: both GG/GLG charts now sport TWO downside gaps off the Friday lows.
Therefore, if XAU/HUI gap up on Friday am (#3), it may be more likely that they draw an "exhaustion candle" by the end of day than continue up. Unless you are daytrading, I would be cautious about committing new money buys here, esp. given the holiday weekend context ... took another 15% off the table today and bought GG OTM calls instead ...
More on gaps later ---
Edited by beta, 25 May 2006 - 08:45 PM.
"Daytrading -- An Extreme Sport !"
#23
dougie
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Posted 25 May 2006 - 09:19 PM
i am one to learn the hard way that taking a profit is a good thing, but still and yet the sentiment is healthy
#24
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 25 May 2006 - 10:43 PM
I will be away fron the computer all day so I will have a stop on my position in GDX 
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
