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WHAT A DAY! If there's no continuation in the coming days I'm dumping this sh!t and going to the mountains.
+20% at long last :)
How's this not +25% yet?!
Gold just hit LT trend line, which it broke on Aug 13th.
You were saying something about a roller coaster? ;)
Nah, I meant that just by looking at the NUGT I don't have to add anything. Exactly what I was waiting for.
Well, I don't have to say anything anymore :D
I wanted to say something but I'll wait till market close.
Haha, that's a funny parallel to what we're doing here.
Stocks down, bonds down, gold flat. What a joke.
Gold +1.5% and NUGT only +7-8%? Miners, giddy up!
I'm just trying not to jinx it :D. I bought OR for $7.45 on Friday. May it be the bottom.
If history repeats, we already have HOD in gold.
I don't want to be a news type post-factum guy but it may be because of fears over Italy. If that's the case then it can reverse with one comment from a EU bureaucrat. Anyway, I'm not guessing, just watching.
DXY up overnight and so is gold. It starts to seem like a real recovery and I hope for gold above that pesky 50 DMA this week.
Nice chart, thanks!
I almost thought everyone has a hangover after the weekend apart from me :P. Yes, miners continue to show relative strength. I would be happy to see the some strength from gold itself.
LOL, NUGT flat and JNUG -6.5%.
Yep, that's what I was looking at when I wrote that DXY better not go any higer.
There you have your second shoulder at open. That's the only potentially positive thing I can see today.
Q2 GDP in line with expectations at 4.2%. That's what it's all about?
USD is surging. I hope DXY stalls at 95 and then down. If not, we're in trouble.
4) On daily - Do you see it...do you??? Will it trigger...stay tuned. (HINT: major tech pattern possible)
Pre-FED drop. Business as usual.
ABX +6% already.
I take your word we're going higher from here ;)
Yeah but gold doesn't bother. Stopped again by the 50 DMA so far. It has to move past through it.
Gold slightly higher overnight. DXY formed a nice H&S pattern. I hope it continues that way.
So, disappointing data is good for USD or am I missing something?
This is the longest monthly losing streak in gold since 2013. If it closes September below $1200 it's going to be the longest losing streak in DECADES. That's not helping but it makes me feel a little bit less stupid about my loses.
EDIT: LOLOLOL, miners already flat... SMH
Remember, rising gold is bearish for gold miners! This is comedy now.
There is always something to spin.
I'm so tired of this BS. DXY fighting to get back in the channel... Spot gold fighting to stay above $1200... Miners doing whatever.
However, if you've HODL'd the piss out of it to this point (a la myself and I believe yourself), it's very difficult to sell at these levels when you downright know that sentiment is going to eventually improve in the coming weeks/months. That doesn't portend that the lows are already in.
And so, today we have a "USD down, gold flat" day
LOL, GDX only reached its LOWER Bolly on daily with this move...