Gold Hurst Analysis
Started by
SilentOne
, Jul 13 2008 12:34 PM
26 replies to this topic
#21
SilentOne
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Posted 31 August 2009 - 09:16 AM
hi Aly,
The only reason why I went long was the trendline break. If NEM for example breaks below the uptrendline, I'm gone. Cycles are bullish or bearish depending on what happens at this juncture.
cheers,
john
P.S. I added again this morning.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#22
SilentOne
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Posted 31 August 2009 - 03:01 PM
Exited all positions. FLAT and no idea.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#23
inamosa
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Posted 31 August 2009 - 05:36 PM
Thanks for the update, John
Gold has never been an easy market to trade...one of the hardest, arguably
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#24
SilentOne
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Posted 02 September 2009 - 10:15 AM
hi Aly,
Well some of the big miners did breakout this morning as I suspected might occur. I am long a partial position in GDX @ 38.7 (from Tuesday) and ABX @ 40.2 CDN this morning. For now its a trade to see if the gold sector can retest the highs of this year. It would confirm tha long term bull IMO. But from there a strong correction will ensure into a 56 week low. I will be a big buyer on that cycle low.
cheers,
john
Edited by SilentOne, 02 September 2009 - 10:23 AM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#25
inamosa
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Posted 02 September 2009 - 05:56 PM
Thanks for the update, John
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#26
SilentOne
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Posted 03 September 2009 - 12:05 PM
Took trading profits on GDX near 44.50. Up 15% from the buy within two trading days. No real sign of a sell but the HUI and GDX are at what should be resistance.
cheers,
john
Edited by SilentOne, 03 September 2009 - 12:07 PM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#27
inamosa
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Posted 04 September 2009 - 12:25 PM
Congrats on the trade.
Any idea how low a fall low may take us in gold?
cheers
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
