I will post this chart. Though I like the price action in gold this is the only thing I don't like now.
It is affecting our DUST, JDST trades. The miners doesn't want to fall. GDX is just dancing on the upper trendline instead of breaking into it.
The volume is decreasing so it means to me there are less and less new buyers from day to day but the shareholders are not selling their shares.
I just want to warn you that this sector should be watched carefully. Someone posted a few days ago that miners are stretched too much above the 200 SMA. So it won't rally that much with gold. This is very true.
Also it seems doesn't want to fall too much maybe just sideway consolidating. If gold is falling more and GDX is not moving just going sideways WE HAVE TO GET RID OF OUR DUST AND JDST EVEN WITH LOSS.
:(
It is affecting our DUST, JDST trades. The miners doesn't want to fall. GDX is just dancing on the upper trendline instead of breaking into it.
The volume is decreasing so it means to me there are less and less new buyers from day to day but the shareholders are not selling their shares.
I just want to warn you that this sector should be watched carefully. Someone posted a few days ago that miners are stretched too much above the 200 SMA. So it won't rally that much with gold. This is very true.
Also it seems doesn't want to fall too much maybe just sideway consolidating. If gold is falling more and GDX is not moving just going sideways WE HAVE TO GET RID OF OUR DUST AND JDST EVEN WITH LOSS.
:(
Comment:
Dont touch your DUST and JDST position today.
Comment:
Gold will fall tomorrow also, so there will be no problem wit hDUST and JDST. I just wanted to sign that we have to be very careful. If GDX is not falling with gold, and DUST is not flying- something is wrong and we dont want get trapped in the wrong position.
It's just a possibilty but we have to be ready for this also.
It's just a possibilty but we have to be ready for this also.
Comment:
I would have liked to see GDX going back into the channel today. It didn't happen. It's not a tragedy.
MAybe we open with a huge gap down at 23.50 tomorrow and everything is cool. Maybe big players are selling their shares to the big guys. They dont want to sell in panic.
They postpone the panic by tomorrow....
MAybe we open with a huge gap down at 23.50 tomorrow and everything is cool. Maybe big players are selling their shares to the big guys. They dont want to sell in panic.
They postpone the panic by tomorrow....
Comment:
××× corrceted : Maybe big players are selling their shares to the small guys today.
Comment:
GDX and GDXJ is having a fake move on low volume.
I think they will slam it tomorrow before the Brexit vote. And big players might be positioning in miner longs at the panic tomorrow or on Friday.
Gold also looks wants to break down to 1240 tonight or early tomorrow.
I think they will slam it tomorrow before the Brexit vote. And big players might be positioning in miner longs at the panic tomorrow or on Friday.
Gold also looks wants to break down to 1240 tonight or early tomorrow.