Friday, December 30, 2011

gold miner:

after gapping down --   bullish engulfing candle  with follow-through today...      good read on sentiment -- turned 100% negative at the bottom.  

Need to hold through the final plunge...     though.   

Thursday, December 29, 2011


/gc --  morning -  in freefall   down  30/oz.      /gc finally crashes to 1525 --  nice round area of support and bounces  10 pts.  --  safe to enter on downtrend break near 1528 for   5 or 6 pts.

 When trend is strongly down --   wait for washout  -- drop to 1525 was huge candle.   Exact bottom at 1525 good clue there's too much demand / covering and may see bounce.

Monday, December 12, 2011

trend down day trade:

internals  - strongly bearish...  the key was to do nothing -- and wait until 3 pm when the cover trade comes in ---  /tf moved 10 pts --   no way to fight it.  Getting long early won't work. but end of day will likely be a very easy trade with confirmation in  bonds getting weak and -- like today - the euro bottomed off an old low established on Oct.       On Twitter, permabears were covering with glee -- so it was clear the trade just needed the last half hour for the move.