For 30 to 90 days horizons SPX: Sold SPX on 12/29/11 at 1263.02 for gain of 1.75%; long 1241.30 on 12/20/11. Monitoring purposes GOLD: Gold ETF GLD long at 173.59 on 9/21/11 Long Term Trend monitor purposes: Flat
Today’s important fact on GDX is its Volume. Today’s Volume appears to be a “Climatic” volume similar to the previous times when volume jumped over 30% from the previous day. We have marked on the chart above other times when Volume jumped greater than 30% from the previous day and you will notice for the very short term the market volatility dropped and price came to a lull. Today’s big jump in volume on GDX suggests a “Selling Climax” occurred and a bullish sign. The gap at 54.70 most likely will get tested and may find support. Nothing has changed to the idea that a Right Shoulder is still in development and the bigger picture remains bullish. Notice on the GDX/GLD ratio that the longer term red line has been jumped today and shows gold stocks are getting stronger against the price of gold and a longer term bullish sign. GLD has support near the apex of the “flag” pattern which we are in that range now. Strong support comes in near the blue trend which is near 157 range. Long GDX 58.65 on 12/6/11. Long SLV at 29.48 on 10/20/11. Long GDXJ at 36.24 on 9/21/11. Long GLD at 173.59 on 9/21/11. Long BRD at 1.67 on 8/3/11. Long YNGFF .44 on 7/6/11. Long EGI at 2.16, on 6/30/11. Long GLD at 147.14 on 6/29/11; stop 170 hit = gain 15.5% . Long KBX at 1.13 on 11/9/10. Long LODE at 2.85 on 1/21/11. Long UEXCF at 2.07 on 1/5/11. We will hold as our core position in AUQ, CDE and KGC because in the longer term view these issues will head much higher. Holding CDE (average long at 27.7. Long cryxf at 1.82 on 2/5/08. KGC long at 6.07. Long AUQ average of 8.25. For examples in how "Ord-Volume" works, visit www.ord-oracle.com.
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