TJ Parker...
I am watching both the uptrend lines and (more importantly) the 200dma. For now, it does not seem to matter because the ones I am trying to buy have not threatened my bids - I am surprised at that. The $USD is being held up pretty well today (up almost a half point) but I expect it to drop on any rate cut by AG - especially if they cut 50 basis points, which I view as unlikely. I expect them to have more trouble holding gold down if the $USD weakens and adds a new leg down and think a breakout on gold is possible.
At the moment I am more concerned that the KLAC, NVLS and CDWC that I bought during the selling this morning are not acting any better than they are. I was looking for sideways to up some into the FOMC announcement Wednesday, but these stocks are not showing much rally thus far.
mlsoft
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