Friday

359
out dust 24.24

GDX almost always does this crazy high vol in last 15min or 1 min of day, as we talked about earlier today...of course most stocks do this, but it's exaggerated in GDX

333
 the GDX daily chart looks good, BUT the GLD chart does NOT look as good, so for swings i'm keeping the existing NUGT GDX holds, but i'm not adding back any of the JNUG that i took gains on earlier today, because GLD chart is iffy

320
wtach gold testing 15min supp now

246
MM gold now moved to sidelines...watching intraday still

244
gdx moved a bit lower in response to MM pressure..they've relieved it some...alll intraday stuff doesnt matter for swing

but helpful applic for scalps

241
MM just positioned to sell gold gdx: watching reaction
24.27 gdx

200
BELOW the mkt at gdx 24.24 i'll add shorts....last 24.29....quick trade only, still see higher GDX NUGT for mid term swings

157
GLD 15min chart still suggests gold needs a small pb lower

1235
got a lil DUST. scalp only not swing. 24.36

1202
5min gold futures stil dropping. when the 5min chart bounces, i might place an order to buy under the bounce on pb...but waiting for the "down" to finish first

1033
: JNUG from yest: because i have lots of nugt gdx, i've take gains on jnug and will buy back on a pb on 5 or 15min chart if we get one

1029
and gold is STILL susceptible to a pullback despite its bullish intraday look here...gold FUTURES   had a few quick nasty intraday moves down in the last 20 hours, and those often retest with higher lows and lower vol...

1026
and watch gold in addition to gdx

1026
mid term swings:  if GDX can hold on here, it could really go....the 60min candles on gdx are big (i.e. impulsive), not small trickle higher, thus far....so if we get 2-4 big candles, then sideways, it would be a bull formation, and that would push the 60m stoch up over 80, and watch to see if it can "ride" over 80 for over 6 hours...if so then the formation is likely bullish and a "set tighter stop to protect gains" as well as "buy dips if they present and are small/medium not big dips"

1017
nonetheless, GDX GLD have a lot of work to do on the shorter term 60min...60min chart still in downtrend that must be broken higher

1015

GC gold needs to get daily closes over 1310 in next 3 days...if it does then a bull flag should be forming on daily chart, and gold will "regain" its 200MA, which is marginally pierved lower atm...under the 200 isnt horrible as long as it doesnt stay there...the 50 MA is above the 200 on GC and if it starts to move sideways then a moving average ascending triagle will form

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".