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.

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