Gold extended its rally that started in mid-March with a gap up at the open today, then sold-off throughout the day. Nevertheless, our trading system generated a "cover-the-short" signal for GLD (gold ETF). The gold miners ETF will almost certainly follow suit soon.
Long-term gold and gold miners are in a bear market, so until proven otherwise I will consider this rebound in gold and GDX a good shorting opportunity. Of course a trigger signal needs to be confirmed before initiating the short.
Gold and gold mining charts located here.
Long-term gold and gold miners are in a bear market, so until proven otherwise I will consider this rebound in gold and GDX a good shorting opportunity. Of course a trigger signal needs to be confirmed before initiating the short.
Gold and gold mining charts located here.
RSS Feed