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Why not short GdX ? Seems like a good point?
In my previous COTD I noted the parameters for selling short.
I would argue that unless it makes a lower low, below the trend line, then it would be a non-confirmation. It has not done this. In fact, this is an ideal buy point. Buy when oversold and touching a trend line. Place a protective stop loss under 154. I am also a believer that gaps always get filled. We have several gap down events at roughly 177, 170 and 164. These will get filled at some point.
Gary, patternwise speaking, HUI is also making an inverted Cup with Handle. Any close below 154, the previous right handle low, and certainly 150, the left handle low, is a confirmation of much more down to come. For CWH patterns, the “neck line” doesn’t count too much so I wouldn’t bet my shirt going short now that we have a close below this neckline. I would rather wait for a drop below all lows and a pullback on this line…
http://imagizer.imageshack.com/img538/5779/oT5ZQT.png
Looks like all gold & silver miners will be BK ..they just cannot generate any cash to support their operations?
Markets are just drifting … time for a little entertainment – Ed Coan, squatting 1019
https://www.youtube.com/watch?v=0AtnWZykK94
Or, Chris Sharma sticking the rail on a 5.14d
https://www.youtube.com/watch?v=UlcQ3mxlNfs
5.14d !!!!
Ilya Ilyan new world record clean and jerk 533 lbs.
https://www.youtube.com/watch?v=HqvK99N9Kpc
That guy looks like a total Neanderthal. Just look at his thighs.
OK, I can top that … my latest hero, Carl Yngvar Christensen. 490 kg. Arguably the best squatter EVER on planet Earth. Perfect form. Drug free. Clean, raw, power. HE IS MY DADDY!