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fib_1618

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Reply with quote  #1 
Precious Metals stock index prices are currently diverging with today's gold and silver price decline as we finally begin the (final?) challenge of the June price lows.

So...with the Precious Metals BPI leading higher, compression on the daily EMA's, and a favorable cyclical pattern, it could be a buy point here in spite of the sloppy internals.

Worth a nibble...so taking a long entry with a stop at .10 below the August 5th lows to allow this sector to prove itself before moving in more aggressively.

Good trading!

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

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fib_1618

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Reply with quote  #2 
Stopped out this morning...hoping for a better entry next time when the internals agree!!

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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hiker

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Reply with quote  #3 
gold futures relative to lower BB remains interesting for 3 days now

vigilance here for me

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