Thursday, December 4, 2014
So where are my stop loss points?
Well, GLD wasn't able to advance at all through yesterday's close today, and a few miner stocks were really rolling over bad (AKG's one).
It might just be that the breakthrough has to wait another couple days. Or, of course, maybe it's never going to come and gold miners will suck forever.
So, I figured it would be a decent idea to set up some stops.
GDX <$19.40 would mean it lost its EMA(11), and GDX<$19.06 means it's lost its Bollinger mean.
GLD<$115.60 means GLD has lost its SMA(50) and <$115.20 means it's lost its EMA(11).
Upon those, I'd probably look at selling stuff. I've already gotten rid of my double-long gold miners ETF.
In any case, I'm puzzled by the relative strength of KGC and SLV.