Thursday, December 4, 2014
Four important charts before the close
Fuck, I dunno buddy, what to make of this:
GLD ex-USD is still where I want it....
GLD has been a bit weak today but it's still perched above the SMA(50), which is where I want it....
GDX's chart looks weak, but not dead yet. It sucks but I'm willing to let it go to the Bollinger mean.
But GDXJ simply looks like puke. DPM.to and AKG and SVLC and GG also look like puke. They shouldn't look like puke if I'm right. Them looking like puke means I might be wrong.
I really hope my own thesis (GLD vs UDN) is right, and this little bounce wasn't simply driven by clowns buying the ZeroHedge GOFO line.