I have been raked over the coals for being so stupid in being bearish on gold investments that it borders on insults. For all you goldbull investors out there you are basing your decicions stricly on price! In this case just a bit above $12 in this GDX chart. If you don’t belive in this trend then all I have to say is test it, test it with 100 shares short GDX and see what happens. If the short postion turns red against you then your bullish stance is correct but if the GDX short positions slowly turns to green them the bearish trend is in place. I do this all the time as my initil 100 shares is always the first short position. I have seen these setups before and they can make astouding drops in short order .
To be fair I will post my USD short positions just to let readers know that this GDX decline is being tested with real money and using no stops to do it. Yes I said “NO stops” anywhere. If you use stops that means you have no trust in what your doing. I will not allow myself to be stoped out when I want to be in a position that I have been after.
I’m not an investor I’m a small trader trying to rebuild a trading account in US dollars. You don’t need a billion dollars or even a million dollars. If you build up to a $233,000 trading account that you can flip long or short, you can draw some wages when prudent. Even now I draw a $100 every month or so.
I only short 20 sahres the first as I had no US funds to speak of,but I have increased all my short positions to even lot numbers.
Do not look at the red as a loss because if you do then you should not even attempt to do what I normally do. That’s a drawdown red you see, it’s only a loss when you take it.
We are at a historic 30 year cycle peak and this only comes along one in 30 years so this is a time of traders not investors. Investors sit and wait, and wait, and wait, in along position for the one time gold stocks might explode. Sure I tested this to long side in my CAD account and I paid for it, so that is the sign to flip directions.
In gold the Death Cross is just below, the Death Cross in the DOW will get hit so I don’t see it time to invest in gold stocks for any reason. A good hot wave count is imperitive, and that we are always ready and that includes you having three control entry sequences ready to go at all times.
I have a Cycle degree wave 4 zigzag bear market with an ABC correction in Primary degree so you need three Primary control entry sequences to make up and you can call them Primary “A” controlled sequence, a Primary “B”controll sequence of the Primary “C” wave entry control system. 3 plans for one degree level and at the smaller scales just you can make one for Intermediate degree. Just perfect it and clone. In futures nobody invests as they move so extreme that you are forced to become a trader.
There is a time to trade and a time to invest and this not the time to invest. I must stress that 1919 was the end og a silver bull market and that a horrific bear market ensued that lasted for 13 years. This is a 92 year cycle to the 2011 peak, which includes three 30 year cycles. 2041 will be the next SC degree wave three peak in gold.
I can only say these 30 year cycles are very regular and I know what the cause is but need to do more work on them.
Just on my trades alone this has been the most tested Elliott Wave pattern in history but much more needs to be tested. We have a perfect time to wave trade in the next three years by only having to swing three times.