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Saturday, August 1, 2009
Someting I Saw In GLD - Don't Laugh
Not saying anything but other then the possibility of this playing out as if the market does turn south soon (like Monday - double tops are everywhere like at the end of last year) and a rush for safety (although this ETF is a bunch of shit and we all know an audit of the actual gold would prove massive fraud) by the stupid ass sheeple that have no clue what they are investing in could occur. The inverse head and shoulders is on a weekly chart which gives it some more weight in my book. I hate these formations, can't stand calling them either, but when they work they are a beautiful thing. Keep your eye on it just in case. Target is around 127. Just keep an eye on it. Just incase, OK? Just in case.
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better be "just in case" lol...
ReplyDeletebought 1000 shares of dzz on friday
good work though
I'm down with K's DZZ count. I forget the massive failure rate of these formations, but it is high if I remember correctly. Indicators are kind of at a point they could go either way. It looked like something worth pointing out. Just someting to watch.
ReplyDeleteYea.
ReplyDeleteThe fact that gold has really not done anything at all over the same time that $USD has tanked makes me strongly favor the prior.
the USD is much lower now than when gold was 1000, hence thats neg divergance in itself.
or how i see it....
All assets are about to crater. Says I.
ReplyDeleteMy dick still hurts from that charades game though. Stupid sheeple.
I pussed out of my GDX position. Paulson owns roughly 30% of the entire GDX ETF and 30% of GLD. He has positioned himself heavy long gold. He was dead-on with the bank meltdown. Tangible assets are attractive.
ReplyDeleteEither he's dead wrong or I am. All hail the GSEC. Viva viagra
ReplyDeleteHe, He, the GSEC rules! I say follow the manipulators. If "they" own it, ya think "they" will have a loser? I doubt it, but maybe there will come a time when they lose control.
ReplyDeleteI am actually not short yet, but should begin entering Monday if conditions permit. I say be short with appropriate stops in place is the right place to be for sure. This set up looks a lot like the end of last year. Look at XLF. Double tops like this all over the place with divergences and lower volume. This last top is a suckers rally sucking in the sheeple for slaughter.
Thanks for the views and comments.
thanks shanky. always appreciate your thoughts.
ReplyDeletedeadhead