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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.59+2.2%4:00 PM EST
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To: EasyWay who wrote (75904)9/6/2001 10:22:37 AM
From: kirby49  Read Replies (1) of 116825
 
Easy:

As long as it stays above 270 and hangs around 272 it's still just coiling IMHO. The trend is still up from the double bottom formed NOV & APR. A declining wedge has formed with the May spike which should breakout and hopefully the longer it coils the bigger the breakout.

I too get discouraged when I look as my small portfolio of juniors and see some I should have dumped and others I should have sold for profit. The seven weeks of Apr & May test one's patience. Holding nine positions for 10 weeks now has seen totals go % 0 - 8 - 0 - 8 - 0 - 6 - (-2) - 4 - (-1) - 2 -(-1). Selling for profit or to reduce loss probably wouldn't have changed the outcome much during that time. I could have sat it out and watched it on paper, sat on cash or heaven forbid put it in techs<LOL>. None of those decisions would have left me with my positions at this crucial juncture however. There's the same declining wedge in my small portfolio. One lesson for me to learn now is if this breaks up to a new trading level and follows from the 7 weeks this spring, to trade the range early after the spike down, something that can be done more readily now than when trading the 93 or 79 markets.

One glimmer of hope yesterday was the rise in TSEGPM index. Usually the rules are POG trails the indices, but also silver usually goes first. It's been sitting steady about 7% below and could be a leading indicator of the next change. If it dumps from here tighten all stops and reassess the situation.

Regards

Bob
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