68th day of QQQ short term up-trend; Gold declines, holding short positions

GMI6/6
GMI-26/8
T210855%

I want to show you again why I think gold is entering a major Stage 4 down-trend.   Take a look at this weekly chart of the gold ETF, GLD. The 30 week average (red line) has almost turned down.   Click on chart to enlarge. I am short GLD by holding put options.   Another way to short this index is to buy DZZ, the double short leveraged ETF.

 

3 thoughts on “68th day of QQQ short term up-trend; Gold declines, holding short positions”

  1. Isn’t it possible that instead gold is just stabilizing? A few weeks ago, the posts on here were a little bullish, and now they’ve turned to bearish using the same evidence during the same period as a few weeks ago. Are there other statistics that you’re looking at to determine that gold has reached a peak and is approaching a major correction?

  2. JUDY, are you keeping your shares of INVN or sold any? Or, how low does it have to go before you sell them? I bought shares at abt $13 and $17. Thanks.

  3. Technical analysis is not perfect. It merely gives me an edge. Probabilities favor that gold is entering a major Stage 4 decline phase. However,if it should close above its 30 week average, I would change my assessment.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: