I have not been involved much in the gold rally as things were getting a bit too Euphoric. Now the pullback has finally arrived. Use this opportunity to start scaling in shares.I am patiently waiting for a backtest of the breakout area, the 50% - 38.2% Fib zone to start buying GDXJ (JNUG).
Maybe by next week into early October the miners will bottom out before the next leg higher.
are you a busy trader?
It has been awhile, good to hear from you.
Thanks, been busy. How are your trades doing? We may see gold drop down to 1300 or slightly lower
Trades have been great rode the elevator up, got off too soon, then caught the elevator back down. Still riding the down elevator but might get kicked off today. We shall most likely see if we are in a "new Bull" market within the next 6-12 sessions. Today's LOW, whatever it is shall be a line in the sand. If between September 15th and the 22nd the LOW is taken out, I think we will see consolidation or down until the end of December. If on the other hand this LOW holds, then we might actually see that very rare event, a Fall Rally. All great fun! And welcome back!
They just kicked me off the elevator.
Gold popping overseas on Nkorea. If it rallies the strength will let us know if it will just be a corrective bounce b4 heading back lower or resumption of upleg
exactly, keep the powder dry, one way or another there should be great excitement.