Sunday, December 6, 2015

Dec 6 - Equities recover but for how long? Precious metals finally bounce

Lots of whipsaw action in equities and I will steer clear until mid Dec.  The set up I am looking for is light chop down to support around mid month and capture the very bullish seasonality the last two weeks of the month.

Ideally we would get a drift down and buy the news into the holiday season mid month

Gold finally made its move and we could see a solid move here, perhaps even a big one.  The FOMC decision is priced in yet the dollar has settled.

Buy signal on the weekly which coincides with the daily.

GDX looking very good for a decent bounce.  Question is whether it can test or surpass Oct highs but it does appear a base is forming.

No comments:

Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...