This is super heavy volume. Silver and gold gapped up and closed lower on this volume forming a bearish engulfing, a candlestick pattern.
This could be the beginning of the end for the metals luster. At least temporarily.
Thursday, October 07, 2010
GLD - Daily Candlesticks
This is super heavy volume. Silver and gold gapped up and closed lower on this volume forming a bearish engulfing, a candlestick pattern.
This could be the beginning of the end for the metals luster. At least temporarily.
Subscribe to:
Post Comments (Atom)
3 comments:
I agree. We are seeing some weakness in the great gold trend. I sold my shares on the day after when gold bounced up a small amount, but I don't think I would be comfortable shorting it as there are so many better plays for that. We are approaching the long term head and shoulder's pattern resistance on the Dow of about 11,500. I think when that happens, many stocks will be at their tops like AAPL and BIDU that have had nice runs. Until then, I am long and riding the momentum. How far do you think AAPL and BIDU will run in the next few weeks?
Doesn't seem like it wants to stop though!!!
APPL
http://aofinance.blogspot.com/2010/10/aapl-weekly-candlesticks.html
Post a Comment