GLD has filled the gap and appears to be putting in a negative divergence. Remember I'm bearish on Gold so I might consider using the strength to initiate a small short in GLD.
Friday, September 3, 2010
Update 3
GLD has filled the gap and appears to be putting in a negative divergence. Remember I'm bearish on Gold so I might consider using the strength to initiate a small short in GLD.
5 comments:
Any signs that this is the top yet Brandt before the much promised big trend down? Personally, i'm fed up with these big wave movements since June.
If all the bad numbers we've had recently, including todays numbers, aren't enough of a catalyst for a downward move, then what will be? Looking at the DOW, it's only 700 points off of the recent peak in April (which is only around a 6.5% fall in 4 months).
And Obama mentioned more stimulus measures being announced next week too.
It looks like we are going to finish well up today, so that TRIN wrong big 2 consecutive days (it's currently around 0.35 at present again).
It's what they call patience, it takes time and nerves for the jumbos to develop.
Mislav,
Yes, good things comes to those who wait and all that.
But my main point is: After all the bad news recently that could and should of been a catalyst for a big sell-off, we haven't really had it. Just more of the same seen since June.
So, what will be the catalyst?
The market needs a catalyst to sell off, a piece of 'news' as an excuse for a sell-off. They wouldn't start doing big daily sell-offs because they feel like it as people would question it.
What 'news' could be worse than the recent news we've had?
Just about to put up a new update, hopefully that will answer some questions.
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