Posted:
#1
BGZ - Hold
Looks like general markets is going through a small sized bounce. I'm inclined to hold my inverse ETF here and see if there's more selling pressure next week. Given the Dow, S&P500 and Nasdaq broke through its six week 'chop zone' or flag pattern yesterday, I'd hold onto any short positions initiated before this train wreck sell off. As I mentioned yesterday, gold and silver is a sell. It has now gapped down two days in a row. It is technically battered and beaten. Long term prospects of gold and silver seem to be ok but its just not worth holding in the near to intermediate term future.
Looks like general markets is going through a small sized bounce. I'm inclined to hold my inverse ETF here and see if there's more selling pressure next week. Given the Dow, S&P500 and Nasdaq broke through its six week 'chop zone' or flag pattern yesterday, I'd hold onto any short positions initiated before this train wreck sell off. As I mentioned yesterday, gold and silver is a sell. It has now gapped down two days in a row. It is technically battered and beaten. Long term prospects of gold and silver seem to be ok but its just not worth holding in the near to intermediate term future.
0
Hot Forum Topics
