Gold

[XL-entLady]

"***Gold*** The SPDR Gold ETF (GLD) remains in a clear uptrend and is currently testing the upper boundary of its support zone. The sharp pullback over the last four days alleviated overbought conditions as RSI(2) dipped below 10 for the first time since early January. This is not a buy signal, but rather an alert to be on guard for a short-term reversal on the 30-minute chart. After a surge from 87.5 to 98.5 (9-20 Feb), GLD retraced 50-62% with a falling flag. The ETF got a small bounce off the 62% retracement mark yesterday and this is the first place to anticipate a reversal. Anticipation is tricky and this is a short-term trade that will require a close watch. A move above 93.5 would break the flag trendline and act as a short-term bullish signal. "



http://www.traders-talk.com/mb2/inde...owtopic=102311

Lady

[justbizness45]

Decision Moose is staying in gold for another week. Enlightening analysis of last week's decisions.

http://www.decisionmoose.com/Moosecalls.html

[etftalk]

Overnight gold was about 10% last I checked.

[etftalk]

Boy, gold can't stay positive today, with S&P down over 2%? That's not a good sign for GLD or GDX.

[JTH]

Boy, gold can't stay positive today, with S&P down over 2%? That's not a good sign for GLD or GDX.

Does this mean everyone is taking their money to the sidelines?

Stocks are down, but bonds are only slightly up. I'm wanting metals to lead the way today.

[etftalk]

The trend appears to be intact, but there are signs of topping in gold. Look at the PMO indicator. Maybe we'll see 875-900 again?

[XL-entLady]

One of my paid guys said this morning:


"So far every daily cycle low has also weighed on mining stocks. The XAU is consolidating in a tight range right now. If one isn’t prepared to hold through a drawdown they should probably exit if this consolidation breaks to the downside."

I'm watching the charts carefully but I think I'm going to hold my small position in GDX and be ready to add to it as soon as the Stoch RSI moves up.

Lady

[etftalk]

Gold just ticked positive on the day and GDX is actually making a nice run off of the lows. The paranoid person in me wonders if the market makers ran the stops and are ready to take it higher again. I am not very familiar with the trading patterns of GDX. Maybe this happens often?

The only thing that would make me want to buy GDX in the short term, is a move above Friday's high today or tomorrow. If it happens today, we'd have a positive outside day and a bunch of confused traders.

I may short it is it can't get above 32.50.

[Gumby]

If it happens today, we'd have a positive outside day and a bunch of confused traders.

Count me confused. Hit my stop @ $32, trended down to $30.83. Now $32.50.

[XL-entLady]

Gold just ticked positive on the day and GDX is actually making a nice run off of the lows. The paranoid person in me wonders if the market makers ran the stops and are ready to take it higher again. I am not very familiar with the trading patterns of GDX. Maybe this happens often?

The only thing that would make me want to buy GDX in the short term, is a move above Friday's high today or tomorrow. If it happens today, we'd have a positive outside day and a bunch of confused traders.

I may short it is it can't get above 32.50.

After studying GDX all weekendd from lots of angles, I've decided it is extremely volatile. It's not for the faint at heart. And it has patterns that make me think "manipulation" all the time. You gotta really believe in precious metals to hang in on some of these trades.

Lady