I’ve been waiting for a dip to buy in gold, and I figure now is as good as any to try a position. I went ahead and bought $DGP, the double long gold ETF, rather than playing the minors [sic] . Here’s a look at the daily chart:
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And, here a look at the 20 day/30min MACD cross, a study @Gapandyap made popular inside 12631:
It is a bit risky buying it down here, but I like my chances for an oversold bounce.
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I like Yahoo’s chart for gold – anybody could trade it:
http://chart.finance.yahoo.com/t?s=GCZ11.CMX&lang=en-US®ion=US&width=300&height=180
It has been doing that for days now.
The 5-day version.
http://finance.yahoo.com/echarts?s=GCZ11.CMX+Interactive#symbol=gcz11.cmx;range=5d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;
The formation, a buzz-top porcupine, was long thought by chart chompers to be a mythical one.
What the hell is that? Typical Yahoo! incompetence?
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… rather than playing the minors (sic).
It’s a good thing you’re not doing any of that, or Fly might have to Sandusky your ass.
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(sic) indeud.
Are head and shoulder breakdown’s not in vogue anymore?
The one we just broke would indicate 1450-1480.00 pog and somewhere in the 25’s for the price of silver. I think it’s early but if the market gets its Santa on…
I hope you plan on holding through the weekend – I bought some too just for kicks as I’ve never traded it.