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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (37114)	8/29/2012 3:24:56 PM
From: Keith Feral	Read Replies (1) \| Respond to of 218821

My biggest problem with gold is the September chart from last year. It got clocked once all of the discussion of OT came to a screeching halt and the 10 year stabilized. The dollar has a perfect buy set up right now - down 9 days in a row with an up day today. Nice reversal. Gold is a classic counter dollar trade. Maybe after the dollar is up for 8 or 9 days, I'll look at FCX and NEW again. Right now, the buy signal on the dollar says stay away from gold. As for the market, it's starting to turn positive off a 5 day downtrend. I was scaling out of positions until yesterday when I started adding back in. Today, I stopped out of INTC even though I like tech post Labor Day. The price action is horrible with everyone talking about a profit warning for this quarter. See what happens, but I don't want to ride it down below $25 for very long! It feels heavy.