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Biiwii.com NotesMacro-economic, market and trading notes including charts, fundamental opinions and any off-topic rambling I may lapse into. Commentary about trading is made assuming readers have already considered the importance of de-leveraging from debt and owning things of value as opposed to paper promises. Individual stocks may be presented here that we may have positions in. No recommendations are implied. See "About & Terms" on Biiwii.com website. |
A Little Word Of Warning Here
Posted on 07/24/2008 00:41:05 | Link | Post Comment
I am going to go back to NOT micro-managing the daily proceedings shortly, but just a note that the GLD & GDX are painting bearish candles if they close near the lows today. These would be engulfing candles and they usually imply additional downside. Everybody's goals are different but be aware, there is a bearish case developing here, especially if the MACD turns down on the GLD & GDX, which it looks like it is doing. This would be confirmed with a break down of the daily uptrend lines we have been watching.
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