Monday, 24 October 2011
"The Money Shot"
Back on 5th October I posted a buy signal I had on GDX, I ended up buying gold that day, and more some days later. Well yesterday I re-bought the positions I had to sell in GDX and GDXJ before ThinkorSwim closed my account with them.
The buy signal I had on GDX on 5th October was also matched by a buy signal on GDXJ, although I didn't check that at the time.
DBDT indicator working on GDXJ;
So on the 5th October a double bottom formed on my indicator working on GDXJ, a huge one with no lower points on the chart. It will be interesting to see in the future if this turns out to be a significant low in the Gold complex.
I also bought some UXG (United States Gold), there was also a buy signal on that back on 5th October;
DBDT indicator working on UXG;
Here's the same two points on a standard chart of UXG;
I plan to keep these positions for a very long time.