Monday, October 28, 2013

GLD and GDX are now officially interesting

Check these out:

GLD has not even bothered to diddle with its SMA(50), it's just gone +2SD as if it doesn't want to look back. The higher low (relative to end of June) is also interesting.

GDX has also just carried on thru its SMA(50) and is now >2SD.

I was expecting a pullback after Friday's candles, so probably a lot of other stupid people were expecting the same thing as well. This now catches the market flatfooted as things start to look good.

Seriously. PS Dave thought the August pop was all there is, and we'd settle into a brutal 2 months of tax loss selling (as if there haven't already been tax losses realized!). Cookie's been calling for a long grinding bottom.

So I've now went and bought $10K of HGU.

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