GLD

I don't trade it but it is fun to watch. It is bouncing from the $90 support, lets see if it can break $100 this time.

Updates

Put/Call ratio no longer showing an overbought condition. GLD, looking like it could break to the upside.

GLD update

So far, so good.

Gold

I do not think anything will last in this market, including gold.

Here are some volatile miners: ABX, AEM, NEM, AUY, AU
or DZZ if you want to deal with absurd gaps.

Gold

FYI, I have dumped gold. Although it may eventually trend upward, it has lost all of its strength. Fed will stop raising this week or next time. I still have some DBA, but I will look to be getting out of that as well.

AUY, more gold

Here is another gold miner company that seems to be at a good buying point, assuming the trend continues.



You can manage your risk very easily by placing a stop below 14. Thats 0.30-0.40 potential loss for a 4.00 potential gain. Nice risk/reward.

ABX - Gold Recovery?

Take a look at ABX, a gold miner.



I will list the pros and cons about this stock chart.

PROS

• MACD turning bullish
• Trend is up, stock is in the lows of trend (good entry)
• Decreasing volume on pullback (consolidation)
  

CONS

• Right now it is testing the trendline, going above and below it, but it fails to provide solid support.

• Second MACD green bar is lower than the first, troubling
  
• Williams %R refuses to leave undersold area
  

Right now I own some ABX, probably a little too much for all the concerns I have. I will be a buyer if the CONS are eliminated in the next few trading days.