Well, I've been tracking GORO for ages, but my broker never has it to short. And my broker's inability to find a stock is about 1 times out of 1000, so I'm not even going to watch it anymore, but before I shoot it in the head (watchlist-wise), I wanted to share it one last time, since I think it's a nice topping pattern.
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Today’s Euro-Song
It’s Different This Time
Well, another analog bites the dust. I really liked the GDX analog comparing 2008 with 2011, but the strength in precious metals shows us that things are panning out differently this time. R.I.P., GDX analog!
Swiss Franc Doin’ It Greek-Style
Good heavens above.
I woke up very late for me (5:40 a.m.), ambled downstairs, looked at the ES (down hard 27, but just about where it's been for many hours) and then – Holy Mother of God – looked at the EUR/USD.
I'm not a FOREX trader, but I watch FOREX all the time, and I've never, ever, ever seen a spike like that. Oh my GOD there must be some furious FOREX traders out there! Can you imagine how many stops were hit!?!?!? What if you were short the Euro, got stopped out for a huge loss, and then were looking at this graph a few minutes later to see how profitable your postion was? Or what about all those who went long on the spike? MAN!
One thing is for sure, folks. This short 4-day trading week is going to be one to remember. I'm going to be pretty quiet during the trading day, as I've got a lot of – errr – trading to do.
