GLD gapped up, then formed a triangle, we have a negative divergence and a breakdown from the triangle, this is worth keeping an eye on today.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
6 comments:
Gold's seasonality typically tops out at the beginning of October. While it may be less relevant today than years ago, it may still play in traders minds.
September is also typically a bad month for stocks.
Keep in mind that the last best September was in 1939, followed by a 40% drop in stocks over the next 2 years. Does history repeat itself? Bear market rally anyone.
Mr. Pink is impatient as is typical near major turning points. It seems like things go up or down forever sometimes. But all of a sudden...
Alesund,
Here's hoping...
.. i've have patience, just not the patience of a Saint.
I'm not going to even attempt shorting GLD until 3C's call on the equity markets turning south in a big way happens.
If you get both around the same time as we seem to be seeing now, then shorting GDX or GDXJ is going to be very profitable.
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