Apr
01
2008

  GLD makes me so mad!

Grr! I've been avoiding looking at my charts for the past few days, with good reason it turns out. GLD was declining, but then it turned back up last week. Today it's down again! What makes me mad, is that
it's not giving me sell signals despite its decline! It isn't in a head & shoulders reversal pattern because the volumes don't correspond, it's
trending down but without enough momentum to signal anything serious.

Other commodities are doing fine, the dollar is still weak despite it's
puny little strengthening today. So, grrrr, I'M MAD! I had considered selling gold when it fell below a particular level of support, but since none of the other statistics back it up, I'm keeping it. And it might take a few months for it to climb back up over $100, but I'm just going to wait. Until the technical movements signal a sell, I'm going to have
to stick it out.

My SDS has also taken a nasty turn for the worse today, but that I'm not so upset about. Technically, it's not all contradictory like GLD. SDS is fine, it's just down temporarily. It's still poised to go shooting up sometime in the next few months. I'm perfectly content holding the SDS. But that darn GLD is making no sense to me!!