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Post by simonsays on Jul 29, 2014 8:49:40 GMT -5
Lots of volatility in metals this AM, as expected. I see GDX broke above 27.06 giving it a new high for the current cycle. Followed by a slam down in gold (stop run?).
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Post by sb on Jul 29, 2014 9:13:13 GMT -5
We also see a lot of people on other blogs adding or taking a stake into the recent run the last couple days, so I won't be surprised in the least if they get tested before we eventually head higher.
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Post by simonsays on Jul 29, 2014 11:50:27 GMT -5
While people are focusing on gold's weakness, miners are showing fairly strong positive divergence imo. I would love to see a quick plunge in the 1280s with this divergence continuing. That would set the stage for a reversal with very few on board. Could happen tomorrow.
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Post by sb on Jul 29, 2014 13:49:39 GMT -5
I agree, and also have to amend my earlier comment. A walk through blog-land now shows many people bailing out again, after just buying into strength a couple days ago. I see that the G-train issued another trade alert too, not sure if he's getting on or off the ride though. lol
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pkf
Junior Member
Posts: 52 
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Post by pkf on Jul 29, 2014 13:52:03 GMT -5
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Post by sb on Jul 29, 2014 14:24:07 GMT -5
pkf,
Only what you've seen at the site 321gold. He's a bit hard to follow at times.
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Post by sb on Jul 29, 2014 15:19:36 GMT -5
This is a few days old, but another bull jumping ship on the miners near term: thedailygold.com/weakness-ahead-miners/ I'm liking how this is shaping up with so many bulls skittish, and am getting hints that Alex will be proven correct again and we'll see a second leg up similar to what we had in June. Just my observation, I wouldn't try to short term trade these markets anymore, they are nothing like I learned to trade years ago, now with bots, unlimited money printing and the Fed's 29 trillion "balance" sheet, among other things. |
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Post by MoonCow on Jul 29, 2014 16:23:44 GMT -5
sb, I agree, markets have a different character now. They are crazier, but somehow the crazy moves don't show up in traditional volatility measures.
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Post by simonsays on Jul 29, 2014 17:11:48 GMT -5
www.cbc.ca/news/world/ukraine-crisis-u-s-eu-canada-announce-new-sanctions-against-russia-1.2721836Interesting article on new sanctions. The article itself isn't all that notable other than for its' predictable western bias, but the comments are very amusing. Make sure you sort by "most liked". Although most Canadians remain clueless about world events and swallow MSM pablum at face value (when not taking selfies), many are starting to wake up and see the other side of the story regarding Israel and Ukraine/Russia. I'm starting to think that the killing of all those Dutch was orchestrated by the CIA so that the EU would get onside with tougher sanctions against, Russia, pushing us closer to the next world war. Not unlike the sinking of the Lusitania, as described in the Creature from Jekyll Island.?!?!
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