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Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
Was analyzing the GLD, SLV, and GDX hourly charts closely yesterday. It seemed there were consolidating into a very tight symmetrical triangle that had begun 6 days earlier. Because the overal price trend had been down, and the 5th wave of that series was probably pointed down, it seemed almost a slam dunk to me that the… -
Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
The movement in PMs has been boring, and will probably be for another month. Although I think we're ready for another mini-uptrend in the short term. Thursday could see some significant movement. I say that for a few reasons... I think the SP500 and stocks in general are ready for a nice jump up, and I think this will help… -
Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
RR, I see what you're saying but for some reason I think it's different this time, at least as far as POG goes... of course the mining stocks could be a slightly different story. Cohodk, Mar 30 is shaping up to have a lot of significance. First, it marks 4 months from the beginning of the consolidation. 4 months is a… -
Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
The breakout happened as expected, the question is how high it will go? This is corresponding to weakness in the USD. Silver is also doing well. 220dma now up to $1023. My OptionsXpress newsletter said the following: Just as Gold seemed to have lost its luster, traders began buying-up the precious metal when the futures… -
Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
I also agree that there is more downside in Ag and Au to come. More accurately though, I'd have to say that there's more upside in the dollar to come, which will result in lower gold and silver. I think the downside in gold will be limited to the 200dma, which is near 1018, or $990-1000, arguably the points where the "big… -
Re: ***FEBRUARY 2010 Gold and Silver Stocks/Options/Futures trading thread***
Looks like it should last at least a couple of days similar to the first bounce off $1074 back in December. The drop in the RSI's, at least for the miners were off the cliff. I came within seconds Friday just bailing out of my GDXJ position but decided to hang at least to see what Monday brought. After being in that same…
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