GLD up or down in 2014

[Van Halen]

60 minute chart of price action since last weeks bounce off resistance. Last weeks resistance now acting as support. If it holds 1366 area is next level of resistance as I see it.

At the next level of resistance.

 

[trefoil]

Breakout today.

 

[Van Halen]

Next upside target is 1389

 

[Van Halen]

Next upside target is 1389

Approaching 1389 area, may touch that today.

A 60 min chart view of Gold since Jan 1st 2014.

 

[trefoil]

Out of GDX today at 27.87. Now that gold's broken out, gotten into that and out of this. Bought GLD the other day at 131.72.
Reserve the right to get into GDX again in the future, of course.

 

[trefoil]

Rock, taper, scissors, shoot: http://www.marketanthropology.com/2014/03/rock-taper-scissors-shoot.html

The thing that moves the precious metals isn't fear, or geopolitics. It's interest rates vs inflation, as mediated via currency values.

 

[dumb_mother]

Out of GDX today at 27.87. Now that gold's broken out, gotten into that and out of this. Bought GLD the other day at 131.72.
Reserve the right to get into GDX again in the future, of course.

isn't gdx the more levered play to the upside though?

 

[trefoil]

isn't gdx the more levered play to the upside though?

Yeah, but it has a tendency to crater with the market on really bad days. It's still an ETF of stocks, after all.
Gold isn't nearly a perfect hedge either, nothing is, but it's closer.

 

[Van Halen]

Approaching 1389 area, may touch that today.

6 ticks short of touching 1389 on Friday but opened tonight and probed that area and slightly beyond right off the start. Should be an interesting week.

 

[Humpy]

Approaching 1389 area, may touch that today.

6 ticks short of touching 1389 on Friday but opened tonight and probed that area and slightly beyond right off the start. Should be an interesting week.

Should be a pullback to the 1360 area soon