GLD 21 minute
Best guess is that the decline of past hour is a B wave decline, to be followed by a final C wave advance, prior to next impulsive wave down. Tough to trade in here, but a clean and decisive break below 106.00 would have me Short again.
3 comments:
"Dangerous is a boring stock market." - anon.
"Governing a great nation is like cooking a small fish - too much handling will spoil it." - Lao Tzu
"People in their handlings of affairs often fail when they are about to succeed. If one remains as careful at the end as he was at the beginning, there will be no failure." - Lao Tzu
No second wave just yet
.http://www.cnbc.com/id/34571036
not until late 2012 once Obama seals his second term.
Jim Rogers said as much in his latestest interview. He is buying gold on the dips. So get a clue.
...Buying gold (I'm buying the miners currently) on the dips, seems right.
This current action at 106,between 112 top and 100 bottom, looks like an in betweener. makes it harder to predict any further drop (to 100 area) right now, without some better effort to go up first to test 112,before going down again to test 100.
but in case this does prove a bottom, a partial buy on select miners is my awful thought for the day.
I like Rogers very much.
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