I feel it too Joe. Some of the junior miners are having pretty good gains (3-6%) but almost all the large producers are down on a fairly neutral day for gold. Not sure what to make of this, but it surely isn't a bad sign.
I'm not gonna rule out another retest of the recent lows, 880 range, I'm keeping some reserves in case.
agreed with peter, i see a possible break down into the 880 range if not a tiny bit further. might see a breakout from the current downtrend line as a bull trap and a swift smack down, or maybe quite simply asia/london will bid it down. EGO and GOLD have been phenomenal the past 2 days, so took significant profits. i quickly took that and bought a significant amount of DBA as it decisively broke its downtrend line today.
btw, came across this blog from gim, wanted to say great blog. basically same thoughts on how to play these markets, i plan on sticking around as seeing your posts in realtime might give me that extra confidence boost in trades i might of been on the fence about. keep up the postings:)
2 comments:
I feel it too Joe. Some of the junior miners are having pretty good gains (3-6%) but almost all the large producers are down on a fairly neutral day for gold. Not sure what to make of this, but it surely isn't a bad sign.
I'm not gonna rule out another retest of the recent lows, 880 range, I'm keeping some reserves in case.
agreed with peter, i see a possible break down into the 880 range if not a tiny bit further. might see a breakout from the current downtrend line as a bull trap and a swift smack down, or maybe quite simply asia/london will bid it down. EGO and GOLD have been phenomenal the past 2 days, so took significant profits. i quickly took that and bought a significant amount of DBA as it decisively broke its downtrend line today.
btw, came across this blog from gim, wanted to say great blog. basically same thoughts on how to play these markets, i plan on sticking around as seeing your posts in realtime might give me that extra confidence boost in trades i might of been on the fence about. keep up the postings:)
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