Lots of gold/precious metal stocks popping up on the radar again. This type of trend often precedes a decline in the market. I would be prepared for a dip tomorrow, especially since we keep hitting resistance at current levels. A break above current resistance would be super bullish (i.e. the DJIA breaking and holding above 10,500), as that would guarantee another rally until we hit new resistance levels.
Tomorrow should be even more interesting! I've been busy liquidating most of my positions today...made out pretty well, with just a few mishaps like LTON here and there...So nearly in 100% cash looking for some precious metal/gold stocks. It would suck to be wrong, but if the market breaks out tomorrow, I'll have to find fresh break outs as most of the current trades seem overextended...
LTON looked like an anomaly. I noticed that this morning too. Sucked. Big gap down.
ReplyDeletedefinitely sucks...was not expecting that at all. CVVT bit the dust as well.
ReplyDeleteLots of gold/precious metal stocks popping up on the radar again. This type of trend often precedes a decline in the market. I would be prepared for a dip tomorrow, especially since we keep hitting resistance at current levels. A break above current resistance would be super bullish (i.e. the DJIA breaking and holding above 10,500), as that would guarantee another rally until we hit new resistance levels.
ReplyDeleteYes, indeed, the three major indexes are getting beat back from resistance today. This close will be interesting.
ReplyDeleteTomorrow should be even more interesting! I've been busy liquidating most of my positions today...made out pretty well, with just a few mishaps like LTON here and there...So nearly in 100% cash looking for some precious metal/gold stocks. It would suck to be wrong, but if the market breaks out tomorrow, I'll have to find fresh break outs as most of the current trades seem overextended...
ReplyDelete