GDX/HUI/XAU/GLD Probably Entered Wave C Of The Wave A Major Intermediate Term Downcycle Early Today
GDX/HUI/XAU/GLD probably entered Wave C of the Wave A Major Intermediate Term Downcycle (since mid March) early today, see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, and, see http://stockcharts.com/charts/gallery.html?gdx.
The severe weakness after very brief strength looks like the start of the Wave C minor intermediate term downcycle. Also, that move/crash early today is a Wave A of Wave A type move, so, another crash is likely late today or early tomorrow.
My GDX short at 46.3401 is looking a lot better, and, it could be near break even late today or early tomorrow. The volatility of gold stocks makes them great trading vehicles, but, they are obviously very risky if you get the cycles wrong.
My mistake was day trading GDX short before knowing that the Wave B upcycle had peaked, and, I also mistakenly held it overnight because the trade was underwater, but, because of the great Trade the Cycles system, even when I screw up I usually still make money.
.......http://www.JoeFRocks.com/
NEM XAU HUI
The severe weakness after very brief strength looks like the start of the Wave C minor intermediate term downcycle. Also, that move/crash early today is a Wave A of Wave A type move, so, another crash is likely late today or early tomorrow.
My GDX short at 46.3401 is looking a lot better, and, it could be near break even late today or early tomorrow. The volatility of gold stocks makes them great trading vehicles, but, they are obviously very risky if you get the cycles wrong.
My mistake was day trading GDX short before knowing that the Wave B upcycle had peaked, and, I also mistakenly held it overnight because the trade was underwater, but, because of the great Trade the Cycles system, even when I screw up I usually still make money.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
10:29 AM
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