OJ,
All bets are off under 316 POG?
But if you don't trade'em:
Message 17621994
Well, like Livermore said, the old horse race saying, you don't know until you bet, ggg. For the record, I've been trading energy and PM stocks for quite awhile.
As I inferred in my previous reply to your previous "<316 and all bets are off" post, a drop below 316 would not surprise me. Running stops (both directions) is par for the course in the golds for one thing. For another, a steep correction of a few weeks fits some of my chart studies. I agree a correction is coming, but that won't be the end of the gold bull.
Accordingly, I sold most of my PM longs near the beginning of June and have been daytrading the PM stocks since, taking some nice profits on the daily moves,
waiting for the retrace to hit my levels,
All of which are under 316. How far under I won't say till I'm back in PM positions with more than a one day or less hold. Some of my favorites are still a fairly thin market.
So we shall see, but it would be more fun to watch it together if you threw a few nickels into the game (long or short), VBG.
Best Regards,
Roebear |
