First down from here to 30 more or less. Could be 28, could be 32. Early to say.
Then up....again
The Rapture
www.youtube.com/watch?v=2ZIDXgP5...
Then up....again
The Rapture
www.youtube.com/watch?v=2ZIDXgP5...
Trade active:
I think we could see an intermediate bottom from Friday till Wednesday next week. I will close my shorts any of those days,could be this friday.
But the bearish weekly trend still on course until April.
But the bearish weekly trend still on course until April.
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The move down (weekly) will continue. I exit my shorts today and will enter again in coming days if miners rise
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Both GDX and GDXJ made its low, so most probable both will rise in coming days. Target GDXJ 36$. Could be a bit higher. And at least 6 days to get there, and that takes us to the end of next week.
Trend remaind bear. So once I see toping conditions I will short again. Same with gold. Still want to see wht gold does. But if week remains as this ways, as per my system chances (very very high) is that new lows are coming. That means, shorting from gold if it rises, I take it as a very good bet. It could take a week or two, but new lows are comming. So profits would come even if market goes against me for days.
Trend remaind bear. So once I see toping conditions I will short again. Same with gold. Still want to see wht gold does. But if week remains as this ways, as per my system chances (very very high) is that new lows are coming. That means, shorting from gold if it rises, I take it as a very good bet. It could take a week or two, but new lows are comming. So profits would come even if market goes against me for days.
Trade active:
Longs running and i will exit then tomorrow or friday. I expect GDXJ to reach the 36$ level one of those dates. Now two posible scenarios (bearish both)
1- Top in these days (even Monday or Tuesday) somewhere 36$-37$ and drop.
2 Top in these days (even Monday or Tuesday) somewhere 36$-37$ and range for days to find a final top at 37-38 level a week or two later. Around 20 Th.
I dont think it will go higher. And once the 36 is crossed, i think risk in the upside, because it will drop again to new lows (under 32$). So longing is the risky bet.
And i have to see what gold does, but for now, the second scenario is my favourite.
1- Top in these days (even Monday or Tuesday) somewhere 36$-37$ and drop.
2 Top in these days (even Monday or Tuesday) somewhere 36$-37$ and range for days to find a final top at 37-38 level a week or two later. Around 20 Th.
I dont think it will go higher. And once the 36 is crossed, i think risk in the upside, because it will drop again to new lows (under 32$). So longing is the risky bet.
And i have to see what gold does, but for now, the second scenario is my favourite.
Comment:
exit my longs...and waiting to enter short next week Coulb be late Monday or Tuesday, if 36$ level is reached.
