Not Quite Ready for Liftoff
by JDH on September 28, 2019
Last week I said gold was ready for liftoff. Oops. Didn’t happen.
However, like the stubborn mule that I am, I’m still not worried.
As the chart shows, since the middle of July NUGT, my proxy for gold, has had a series of higher lows (the vertical lines) and higher highs (the blue circles). That, to me, is an uptrend, and I choose to believe that that uptrend will continue.
Yes, this week was a set back, but until NUGT closes below $28, I’m not going to panic.
It’s volatile. It goes up and down.
I would like to see another new high by the second week of October to keep the momentum going, so I’m not selling. In fact, on Friday, I took advantage of the bargains and bought more.
Ill advised? We shall see.
More next week.
Not Quite Ready for Liftoff
by JDH on September 28, 2019
Last week I said gold was ready for liftoff. Oops. Didn’t happen.
However, like the stubborn mule that I am, I’m still not worried.
As the chart shows, since the middle of July NUGT, my proxy for gold, has had a series of higher lows (the vertical lines) and higher highs (the blue circles). That, to me, is an uptrend, and I choose to believe that that uptrend will continue.
Yes, this week was a set back, but until NUGT closes below $28, I’m not going to panic.
It’s volatile. It goes up and down.
I would like to see another new high by the second week of October to keep the momentum going, so I’m not selling. In fact, on Friday, I took advantage of the bargains and bought more.
Ill advised? We shall see.
More next week.