When everybody is ready to go long in gold and miners it's time for the market to throw a curveball to the goldbugs.
Isn't it too simple to come out of an intermediate cycle low the way it was?
A simple bull flag , a simple breakout of the bullflag. Gap on gap. Skyrocketing to the sky.
If you think this is the case you don't know Wall Street. This is not the business for us - small guys - to make easy money.
If gold starts to move down into its DCL after this 8 days of bounce GDX will print an abandoned baby and price breaks back into the flag. It can be so scary that the flag could break to the downside in the following 2-3 weeks to print the final ICL.
I don't like the breakout volume at all...
I set the idea as a short, but I'm not going to play it today. If the decline starts DUST could be a good buy tomorrow or next week.
Isn't it too simple to come out of an intermediate cycle low the way it was?
A simple bull flag , a simple breakout of the bullflag. Gap on gap. Skyrocketing to the sky.
If you think this is the case you don't know Wall Street. This is not the business for us - small guys - to make easy money.
If gold starts to move down into its DCL after this 8 days of bounce GDX will print an abandoned baby and price breaks back into the flag. It can be so scary that the flag could break to the downside in the following 2-3 weeks to print the final ICL.
I don't like the breakout volume at all...
I set the idea as a short, but I'm not going to play it today. If the decline starts DUST could be a good buy tomorrow or next week.