Goldtent TA Paradise

GDX Daily and Weekly… bull market in PMs in full swing

1. Gold Learner says:

   March 4, 2022 - 4:54 pm at 4:54 pm

   Sir North,
   You’re just plain stunning in the regularity of your chart updates! Again, it is just the charts, they say so much more than “opinions”.

   But, the ULT indicator is at 66 and change. Is that a cause for concern? Would you book some profits as it approaches even closer to 70? Or is this time different, and we should let run (up) many of the INDIVIDUAL miners who are yet-to-be-overbought (or in many cases still oversold on a longer term time frame)?

   Thanks as always.
   GL

2. North says:

   March 5, 2022 - 8:19 am at 8:19 am

   GL, which chart are your referrihg to, the weekly or the daily? If you are referring to the daily it depends on what kind of trader are you, short-term or long-term. There will be a consolidation on the daily chart soon. If you are a short-term trader you might want to take profits. But if you are thinking longer term, you would just wait out the consolidation. My personal preference is for the waiting out of the consolidation. Even on the weekly chart, you would have to make the same decision, although the consolidation would take much longer to resolve. It all depends on your trading preferences until you believe the bull market has hit its final top. Then you have to take your money and run. IMHO.

3. North says:

   March 5, 2022 - 8:21 am at 8:21 am

   Another point— In a raging bull market it could play around the top of the ULT and other indicators for some time before it takes a breather.