Goldtent TA Paradise

GDX Weekly Confluence of Support?

1. Paul says:

   May 24, 2016 - 10:22 pm at 10:22 pm

   Nice observation Mark… fingers crossed
   Good luck tomorrow

2. silverboom says:

   May 24, 2016 - 10:34 pm at 10:34 pm

   Interesting – but so has much of what Spock, Plunger, Rambus and others have posted pointing “UP”. Interesting, but so far dead wrong on this correction. What a haircut today. I’m always amazed that you give back gains faster and in bigger chunks in precious metal stocks than any gains you might rack up. Mark, I’d like to believe you are dead on, but my finger is poised on the “sell” button. I’ve lost two fortunes in this stuff, and I am not gonna sit by and lose another. It either halts this decline tomorrow or I am out. The signals now all seem aligned to confirm we had a false bull – quite a change in a matter of days. Perhaps the likes of Moriarty of 321gold were dead right after all: should have scooped the profits over a week ago.

   We open weak and I am gone. Cannot stand another horse whipping by this stuff.

   • Mark says:

     May 24, 2016 - 11:03 pm at 11:03 pm

     I totally understand the sentiment! The chart above is a line in the sand for me. If it doesn’t hold up on Friday’s close, I am ditching my worst performers and only holding the best until we get a better set up. Half my positions are in energy and they continue to look solid for me.