Replies to post #2209 on Direxion Daily Gold Miners Be (DUST)

[mannken]

Anything is possible and very tough to call

Here's my call

Technical
Gold seems to be almost overbought on Fast-Sto, I've been looking for that 1515-1520 technical bounce but my timing has been off by a week or so. Possibly, we get an early push near 1520 before turning back on technical's alone. But I know technical's are not everything and are over shadowed by world events and other drivers.

Geo events
My assumption, the US announcement may bode well for Dow futures as a sign the US will be more assertive in some of the areas of instability. This could reduce the geo-instability fears that are spiking gold, returning Gold trade back to supply/demand, inflation and dollar driven performance.

Fundamentals
Going back to Gold trends, historically speaking, there's a lot of perspective in these charts for a bearish outlook and another post on gold vs. dollar vs. cpi.

http://www.macrotrends.net/1340/gold-vs-the-cpi-historical-chart
http://www.macrotrends.net/1329/us-dollar-index-historical-chart

Article posted today, really saying Gold is only maintaining because of current geo events and demand has been falling.
Why can't Gold break out:
http://blogs.barrons.com/focusonfunds/2014/08/07/gold-why-cant-it-break-out/?mod=yahoobarrons&ru=yahoo

Anyways, I took another limited risk, Long Dust entry today and possibly another tomorrow, saving the bulk of positioning for trend reversal above 17.50 resistance.

Watching Gold futures after the US Iraq announcement. http://finviz.com/futures_charts.ashx?t=GC&p=m5

GLTA, Hope everyone makes $$$

[dealerschool2006]

Gold is down, but so is DUST...markets are up so are tensions are low....we will see, I still have a month for Gold to get down to low 1200's...