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Strategies & Market Trends : John Pitera's Market Laboratory
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Davy Crockett
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To: Davy Crockett who wrote (15803)4/13/2014 12:41:47 AM
From: John Pitera5 Recommendations  Read Replies (2) of 33421
 
Hi Davy, I am really liking your idea of Shorting the Gold Miners by go long DUST (the 3x Gold miners bear etf) DUST definitely looks like a flag.

check out GDX the Gold Miners ETF has just broken back below it's 200 DAY Moving Average and was repelled by the 50 day moving average. My RSI model has it in sell mode, the stochastics still show we have room to move down.

It's a high probability trade when you have taken out the 200 DMA and then tried to get above but then it is sold by the pros and when it breaks back below the 200 DMA hey it should be continuing lower.

vaneck.com



Now when you look at GOLD itself it's just hit the .382 retracement of the most recent decline and more important it is being repelled by the 21 day moving average.... which is declining.

in 2014 you wanted to be long gold when it was above it's 21 DMA and short it when we broke below it.
the stocastics are rolling over .

The Gold miners are weaker than the actual metal itself so DUST looks like a very constructive idea. I may need to add some DUST and or short the GDX



Russia has massive troops and military equipment on the edge of the Ukrainian border and the Pro Russia forces taking over a bunch of the Police building on the east side of the country.....



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