Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 681.44

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Nov 10 4:00 PM EST

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To: Machaon who wrote (49632)	5/5/2013 7:08:48 AM
From: GROUND ZERO™	Read Replies (2) of 218654

I had every reason to believe gold would begin moving higher since I finally did have a gold buy signal appear on Friday, that signal was triggered, but it failed... a failed signal is generally not a good sign... this is why I finally dumped it and reinstated the short position... we could see gold try again, but I'll just stay short until the next signal is triggered... mind you, in the chart below, my signal has nothing to do with that support/resistance line, but I find it interesting that my model had a failed buy signal right at that line... but, the chart does tell the story... and silver chart below is even weaker... I suspect the bottom is not yet in place, but time will tell... another buy signal which would also be confirmed would tell me the bottom is already in place... until then, I think the rally was just a bounce... we'll both know soon enough... GZ

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