The GLD (Gold) has run into resistance and has begun to fall, the SLV (Silver) shows the possibility of a double top. I should've trusted in my feeling. Now, I'm going to wait the confirmation that the rising support trend line in XAU is broken.
The rising support trend line on the XAU daily chart has been broken, but I also see a possible descending wedge. After a downward breakout, price sometimes stops below the wedge and soars upward. The confirmation happens after an upward breakout of the descending resistance line.
Yesterday the XAU declined during the day but ended up positive. So, the rising support line continues to support despite yesterday's Gold and Silver correction.
Gold Silver Stock Portfolio. New Positions. I´ll buy: Thompson Creek Metals Co. Inc. (TC) SILVERCORP METALS, INC (SVM) Thompson Creek Metals had broken the ma50 moving average resistance. I think that will continue to rise. I think the correction of the last few weeks is a buying opportunity. SILVERCORP METALS, INC is in concert with the market direction. When the silver/gold starts to rise, the stock will go up too. All 2 stocks mentioned above increased their net cash provided by operating activities from 2010 to 2011.
The following charts provide an overview of the portfolios evolution since the beginning. The black line illustrates the evolution of the portfolio and the blue line shows an exponential moving average. (Updated on Fridays)
Despite the bearish correction, the Philadelphia Gold/Silver continues with the bullish pattern of âhigher highs and higher lowsâ.
so why don't you just buy some GLD and forget it? You aint going to make any money no matter how good a trader you are if it is going down. There is something to be said for trading, but I don't think you will ever find it at 3x