call me crazy buying OIH and GLD here

Discussion in 'Stocks' started by dac8555, Jan 5, 2007.

  1. dac8555


    They have dropped a ton on high volume (exhustion)..and are sitting at support.

    My williams %r indicator shows over sold and creeping back up.

    i am in.
  2. You must have been the sucker I shorted to. Just careful, it could be a dead cat bounce.
  3. dac8555



    I call a "dead cat" something else.... dead cat is when something drops to almost zero (like a biotech firm that didnt get FDA approval or something) and goes from .15 to .1.50 temporarily.

    I would call my play more of stalling on support....sure wnough...OIH just made a new intraday high.

    well see if it holds.
  4. jstox


    My system gave the Buy signal at yesterday's open. A very rocky start.

    GLD looking like it will issue a Buy for Monday's open.

    • oih.png
      File size:
      14.5 KB
  5. I can not recall where I have seen three straight day drops for the GOX. The last two days were big moves down too, but today pressure appears to be lightening a bit.
  6. S2007S


    Suppose to get a bit colder here in the northeast, oil should be trading higher by the end of next week. OIH could trade back to 133-135 range.
  7. dac8555


    XLE also has a doji formation as well.

    For the bounces i am also looking to China...

    LFC was an old favorite of mine that i sold long ago. i have it on the watch list again.
  8. Blew thru the early November low at 129.91, but came back up into the previous day's range. Overshot 61.8% fib ratio. All MA's are moving down hard. Oversold means nothing in a BEAR trend.
    Can stay oversold for quite some time.
    Keep your sell-stops tight.
  9. mmm hmmm.... nice bounce happening in FXI... looking forward to going long again after taking some tasty profits!
  10. I don't know, but for some reason it looks like oil is going to gap up to the $58.00 level on Monday and then get smacked back down. Charts are so bearish looking on the longer terms (daily,weekly). I'm looking at $52.00 as a more likely bottom to this move and then a range between $52 and $58 for a while. $52 is also a pretty big pivot point from the beginning of 2005.
    #10     Jan 5, 2007