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Non-Tech : The Woodshed
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To: Andrew who wrote (54614)10/4/2016 3:52:46 PM
From: stuffbug1 Recommendation

Recommended By
Anchan

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Are you a trader or an investor?
Traders will wait, some investors may buy a little, but most will wait until there is some evidence of a potential bottom on the daily charts.
Today is down day number 6, bullish or bearish runs tend to end by day 8,9, or 10.
GDX 200 day moving average is at 23, May lows were just below 22.
Correction is now over 25%, several months ago some didn't believe we would ever have a 20 - 30% drop even though they have occurred during the early stages of every gold equity bull market.

Lots of sell stops triggered in gold futures - a massive number below 1305, a large bunch under 1290, another bunch around 1280 and a final smaller tranche in the 1270 area.
The banksters who were under water after Brexit doubled down during the surge to 1375 and have probably now exited at least break even.
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