Tuesday, August 4, 2015

Aug 4 - GLD update

GLD doesn't seem to be winding up so far.  Last week this looked good for a bounce but the longer it stays at this level, the more likely we will see another leg down because the potential tension is lost.  Technically, RSI is triggering a buy but the slope is a bit shallow leaving room for it is become oversold again.  I will be watching this one for a bounce but not ready to re-enter yet.  Miners continue to get hammered and the carnage will continue until a bounce appears in precious metals.

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Feb 17 - Large short position now

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