We’re getting some mixed signals on GDX and with the TrendX Z signal reversing to the upside this morning so we closed the open Short position for a modest $98 gain. It’s unusual to see this signal reverse before hitting the lower support line but HEY!, surprises are the name of the game in this business. The fact that the TrendXpc has NOT reversed actually supports the decision to cover the Short and for the time being we’ll just hold off new GDX directional trades until a clearer consensus signal is generated. We’ve seen an interesting yin yang between GLD and GDX lately with a gradual return to volatility parity. Some more thoughts on that tomorrow.
Related posts:
- TLT Run Continues, BUT….. Two hours into the day and TLT is on a...
- 02.23.09 – Shorts Cover but No Buyers Shorts covered over the weekend in front of the banking...
- GDX Update Here’s the current (Monday ..90 minutes in) TrendX view of...
- Holding DV2 Extremes above and below the 200dma – Short by Enn Kuutan Last post we looked at the absolute...
- Trade With The Trend: Using AggM as a Filter for Short-term Mean Reversion Indicators In this example, we only permitted trades in the direction...
