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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: KatayamaGorobei who wrote (15122)	2/5/2009 9:26:43 AM
From: SliderOnTheBlack	2 Recommendations Respond to of 50072

Do you think the gap up should be sold? Until the broad market bottoms, I think you need to take "something" off on all gap up opens. That "something" can't be a one-size fits all number for many reasons... it depends on your entry point, what type of gains you're sitting on/protecting, what your portfolio mix is, if you're over-weighted and positioned for a trade etc. I'll have some charts up and linked to shortly... The HUI is poised to break out of an interim descending triangle pattern and should break through HUI 318 resistance on this move. This series of 4 lower highs over the last couple of weeks, into a rising gold price is due to the downward pressure of the broad market. Gold & gold stocks are slowing disconnecting from the market. And that's the over-riding theme of this trade here. If we break 318, give 'em some leash, because while there is minor technical resistance at 350, 370-380; with gold over $900+ we have an over-riding fundamental "value gap" that should send the HUI to 400 before any significant pullback, with the caveat that gold needs to hold $900+ here. Fasten your seat belts & enjoy the ride, SOTB