I already have DZZ (2x short gold) in the trading portfolio so it's meant for a swing type trade, it's down a little over -4% which is fine for a 2x leveraged ETF, I really don't have much room to add to it, but I'd like to see anyone interested in the trade be able to get in at the most favorable area. Generally speaking, GLD looks like a good short here, could it be better? Yeah, >$132.60 would make a more ideal short entry whether short GLD or long DZZ, but we're not talking about a huge difference and I'm more than content with my DZZ positioning. I may add to DUST, but it would need the same bounce I'd like to see in GLD intraday.
GLD 30 min, 60 is positive for the larger trend, but that's still a ways off.
15 min, I can go through a lot of them, the point is distribution is here, GLD should be pulling back around 15-17 points.
Here's the near term divergence or timing divegrence, if you look close I think you can see why I'd like to enter the position either short GLD or long DZZ around the $132.60 area which is around overhead resistance, you might put this on your radar with some price alerts, the timing seems right, I'd even take it here, for all intents and purposes I have, but there may be a little better entry later today.
No comments:
Post a Comment