I can't tell if gold is going to re bound or sell off some more. The stochastic is under 20 and just turning up. Take no chances
Buy 100 shares GLD @ 88.93
2 comments:
Anonymous
said...
what do u think about UNG? its setting up the bullish W formation. i'm no expert but it may be worth a look. natural gas and oil are not going to be in the same basket in regards to performance in an economic calamity
You are right about the W formation. The first bottom in August and the second in January, both in the 32-34 zone. No one has a crystal ball, but this is what I would do. Put Up your 50 day moving average. Buy a small number of shares, and PUT YOUR STOP @ the 50 dma. I will actually post this one.
1.By a full position we mean 100 shares of a stock: So,, a 1/4 position is 25 shares if you have 100 shares of a stock or it's 100 shares if you hold 400 shares of the stock.
2.The Plunger Protection Team (PPT): This refers to the cabal consisting of among others secretary of the Treasury, the chairman of the Federal Reserve, the chairman of the SEC and the chairman of the Commodity Futures Trading Commission. Officially known as The Working Group on Financial Markets, it was created by Ronald Reagan to prevent a repeat of the Wall Street meltdown of October 1987. But on Wall Street no good thing goes uncorrupted.
3.Ponzi Unit or Ponzi Finance Unit: A business unit whose interest charges of a business unit exceed cash flows from operations of that unit.
4.Ponzi Finance: A method of finance (borrowing) where repayment of debt is achieved by the issuance of new debt. e.g. payment of a monthly credit card bill with another cerdit card.
2 comments:
what do u think about UNG? its setting up the bullish W formation.
i'm no expert but it may be worth a look. natural gas and oil are not going to be in the same basket in regards to performance in an economic calamity
You are right about the W formation. The first bottom in August and the second in January, both in the 32-34 zone. No one has a crystal ball, but this is what I would do. Put Up your 50 day moving average. Buy a small number of shares, and PUT YOUR STOP @ the 50 dma. I will actually post this one.
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