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Wednesday, January 5, 2011

INTRADAY POST

An intraday post has been posted to the website

9 comments:

  1. Hard to know whether holding to sell into a bounce if 1361 is breached is the best strategy, of course. But often that's the case. I'm going to take the gamble as one thing I'm focused on is not selling into weakness. Time will tell.

    We're going to get teased (tortured) here mercilessly by this market.

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  2. Gary: I notice that you do not adjust your portfolio %ages based on what is being held. That is, long 5% SLV counts as 5%, and long 5% AGQ counts as 5% even though it's a leveraged fund. Being long 100% AGQ is pretty different from being long 100% GLD. I guess I don't really have a question just a comment that this approach seems perhaps not best.

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  4. Gary:

    With the benefit of hindsight, did the $$$ form a 2b reversal?

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  5. Hi Gary,

    If one wants to go short here...what would be a good entry point or what level needs to be breached?

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  6. Nick,
    It could be looked at as a 3b reversal I guess.

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  7. Looks like silver is now forming a 2B reversal (to the upside). The daily trendline was breached earlier today to the downside, and now both the hourly downtrend resistance line AND the daily support trendline have been breached to the upside, which could be a fakeout breakout, or it negates the downtrend.

    I'm staying LONG my AGQ until the 1361 level is breached in gold.

    Gary, are you seeing this pattern? What makes you think the 1361 will be breached?

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