Trade the Cycles

Friday, August 22, 2008

GLD (Gold ETF) - A Huge Extremely Bearish Spike To Behold

Check out GLD's (Gold ETF) huge extremely bearish spike (84.54 cycle high, it's in Yahoo's historical data, see http://finance.yahoo.com/q/hp?s=GLD) on yesterday 8-21's intraday chart, see http://finance.yahoo.com/q/ta?s=gld&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. The daily chart's candle also has a very large very bearish spike yesterday 8-21, see http://stockcharts.com/charts/gallery.html?gld.

I'll be looking to buy DZZ, the Double Short Gold Exchange Traded Note (ETN) early on Monday. GLD (Gold ETF) should fill 8-21's downside gap at 80.06 on Monday or Tuesday.

.......http://www.JoeFRocks.com/

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