The Trading Strategy For Tax Loss Selling Season
The Junior Miner Junky David Erfle shares his thoughts on how to trade during tax loss selling season. We also look at the important setups for gold and GDX into the later part of December. Both of the charts are showing a defined pennant formation that will break by right around the Fed meeting. Which way the break comes is a tough call right now.
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Gold turned up from two fork supports…
http://schrts.co/tRTn7t
GDM turned up after filling that 11/15 gap…
http://schrts.co/MCWqRq
SLV turned up at fork support and is now at minor fork resistance…
http://schrts.co/EAXzR1
SILJ:GDX appears to be putting in a double bottom and is very oversold…
http://schrts.co/4EK9rp
The CRB is probably making a low (chart does not yet include today’s action)…
http://schrts.co/G7ifW9
SLV:GLD appears to be bottoming but is getting capped perfectly by fork resistance at the moment…
http://schrts.co/GvsKnb
Picked up another 5k shares of SILV the last week @$2.22. I’ll take my lumps if it heads lower, but the set up still looks great to retest current highs. This one has bucked the downtrend while the sector is being punished. Ag price going forward will set the tone going forward