Defensive plays aren't what they used to be. I tried Gold back on 9/2, but got out quickly as it fell with the market. There looks to be a 3 week delay between the market's panic and a settling down into a move out of equities into Gold.
So fare, we're still bullish in the equity world, but Gold could have it's day again soon. A friend has me watching for the reversal.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
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We popped up today, but I'm still looking for a pullback to 53, possibly as low as 51.60
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We're right at the top of the downward trend, with a rejection on the bigger timeline.
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stoch says we're about to turn up I'll be watching for a break through of the downtrend and opportunity to go higher.
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GDXJ is in a descending wedge, pattern says "continuation" of prior UP trend.
I'll be watching for a break out and back test, or buying on the bottom of the triangle with stops as we approach Red Downtrend. Stopped out twice already for profits as it reversed.