Good accumulation today.
Pascal
Good accumulation today.
Pascal
This is indeed accumulation. I however already have a big long position and I would not buy here, except if we fell back down to 54 with a positive divergence.
I will sell the position either if we hit the trailing stop or of the GDX MF falls below the 0 level, which is more than 3.5 days away.
By the way, The counting of the number of days will change as soon as we enter into the overbought territory. From that point , we will switch to a "sell in strength" mode from the "protected buy mode" we are in today. I will post messages when this occurs.
Pascal
Thanks, Pascal. I find the mode switch from "protected buy mode" to "sell in strength" to be most interesting and worth further exploration in the current environment as the price action largely stays range-bound and "hypothetical" price targets are hit and followed with rather decisive retreats/reversals.
Trader D
"I find the mode switch from "protected buy mode" to "sell in strength" to be most interesting and worth further exploration..."
I do, too, and would like to understand more fully how this actually works. And does this apply to the IWM Robot and 20DMF as well?
The Overbought/Oversold conditions of the GDX MF are explained here:
http://www.effectivevolume.eu/conten...ember_2011.pdf
The 20DMF works differently, because the whole market is less "emotional" than GDX.
Pascal