Short gold on break of support.
AEM was the obvious trade and
ABX was the sympathy play.
Not sure what to call the
FUQI setup other than inverse C&H. But if you see a big thrust higher, consolidation, and a big move back down, just draw in the lines and wait for the handle to form. Approx. 100% measured move down, if we measure the pattern from 21.50 to 20.50, target 19.50.
I shorted
RIMM when it failed on a BO attempt. Not a big move today, but I still think
RIMM is going to setup a swing short when it breaks the lower
trendline of this bearish pennant.
Short gold on break of support. AEM was the obvious trade and ABX was the sympathy play.
Not sure what to call the FUQI setup other than inverse C&H. But if you see a big thrust higher, consolidation, and a big move back down, just draw in the lines and wait for the handle to form. Approx. 100% measured move down, if we measure the pattern from 21.50 to 20.50, target 19.50.
I shorted RIMM when it failed on a BO attempt. Not a big move today, but I still think RIMM is going to setup a swing short when it breaks the lower trendline of this bearish pennant.
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