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Lejun James Shao is the founder of (, WhitePine Investment Inc of USA, and CEO of WhitePine Software Inc, Beijing, China. He was the top finisher in MSN's 1st US One Million Dollar Investment Contest, "Strategy Open Tournament," with a +45.88%... More
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  • GLD - What To Expect Tuesday

    GLD was hit hard Monday. It closed at 1,193.80, down 2.32% and now it is at the bottom of its uptrend channel:

    For the uptrend still valid, either gold price moves up tomorrow or go down further to 1,170 level and then rebound. Otherwise, the uptrend is over.

    Gold is short term oversold based on my technical indicators. But oversold can keep so for a long long time. Check recent SCO, RUSS and you will have a feeling how hot those two ETF are.

    Disclosure: The author is long GOLD.

    Tags: GLD, gold
    Dec 15 10:38 PM | Link | 2 Comments
  • GLD - What To Expect Next Week

    GLD did exactly what I expected last week. It did have run up to 118.99 then pulled back.

    Now GLD is preparing for its next lag of run. We expect to see it touches 120.00+ next week. See my updated chart below. By the way, GLD was down 3 days in a row after touched 119.00 level. The pull back is minimal and now has reached short term oversold condition:

    Please be noted that RSI at 55.89 is far from overbought. Also be noted that 120.00 is its previous high. We will give our view where GLD will go once it touches 120.00 in our next weekend update.

    I still hold my view that GLD has reached its long term bottom on November 6 and the following is its long term monthly chart I made on November 6.

    Disclosure: The author is long JNUG, GLD.

    Tags: GLD, gold
    Dec 13 3:08 AM | Link | Comment!
  • GLD - Uptrend Continues And Big Spike Next Monday

    GLD trend has turned up since it reached the bottom on November 5. Now GLD is moving up with higher highs and higher lows in the last 22 trading sessions. See its daily chart below:


    1. GLD recent highs: 11/07 - 113.15; 11/14 114.72; 12/01 - 117.36. The next high may bring it to 119 - 120 area.

    2. GLD recent lows: 11/05 - 109.67; 11/10 - 110.28; 11/14 - 110.65; 11/28 - 111.95; 12/05 - 114.24 (?). The next low may be in 113 level.

    3. GLD price has been quite volatile recently. It is not rare to see big spikes or big drops in one day.

    4. Most of the big spikes and big drops happened either on Friday or on Monday.

    5. Big drop days always followed by big up days: 11/10 -> 11/11; 11/19 -> 11/20; 11/28 -> 12/01. Will we see big up day next Monday?

    6. GLD price movement has been see--sawed since November. Most of the time, one up day will be followed by one down day. We have not see more than two consecutive up/down days.

    7. GLD has not reached its overbought condition as RIS is still at below 50.

    8. We can design our trading plan based on those observations.

    If the pattern repeats, buying into GLD before last Friday's close will be a good choice as

    GLD had a big drop last Friday;

    GLD had down two days in a row.

    I bought JNUG last Friday at $3.05.

    Disclosure: The author is long JNUG.

    Tags: GLD, jnug
    Dec 06 10:26 AM | Link | 9 Comments
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