Yesterday we noted that GDX got zonked on the close and today in what looked like a running of the shorts DUST took an accelerated hit in the last 30 minutes. Turnabout being fair play and all that… Continue reading Dusting Up the Close
The bounce we were speculating about is here and now it is time to manage its upside parameters. A simple weekly chart shows 188 an ultimate decider on whether the bear continues and if the bounce is strong enough, that would be the best bounce target as well. But just because there is important support [ed. resistance] (with a lot of hot air between it … Continue reading NFTRH; HUI Bounce Parameters
A new commentary post is up at Biiwii.com that will probably bring a little hate mail. The truth always seems to do that. Gold Bug Psychology Must be Neutered Continue reading Gold Bug Psych 101
The October decline came after we had been noting various sentiment indicators were over bullish and Participation indexes were negatively diverging. A hard decline followed and a bounce came as expected with pervasive end of the world bearishness gripping participants.
Now, the bounce has morphed to new highs in some cases and players have repaired their psyches as if October never happened. For this reason, the markets are vulnerable to the faded, but still viable scenario of a November decline and re-test of October’s bearishness.
Sentimentrader’s aggregated data show a situation that is close to what it was leading into October.
