Here's a chart of GBG through the close of the day yesterday:
(Click to make larger)
And, here is a chart of GLD in parabolic mode!
(Click to make larger)
Parabolic conditions offer great reward with commensurate great risk. While I would prefer that GBG not be such a laggard, my expectation is that there will be some price appreciation here. And my risk/reward modality is such that I would not enter new positions here.
Position: Long GBG
3 comments:
You just KNOW that banks are using smoke and mirrors to report their current earnings. Here's a nice piece that reveals and explains it succinctly.
http://www.annaly.com/blog/?p=735
That is a nice setup on GBG, with huge support just below the breakout. How strange that a gold stock is performing in such a laggard fashion.
Glenn: Thanks for this link. It must be popular, as another sent it to me as well!
Biffermas: YEs, I have a knack for the laggards!
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