Technical Analysis of Stock Trends

Gold. Gaps. Golly–gee–whiz.

Posted on Nov 24, 2009 by WHC Bassetti in Letters

Stock investors are now looking at something in GLD that futures traders are long familiar with -- repeated gaps.  These rarely occur in stocks, but are common in commodity blow-off situations. (See SLV and PGM also.)

Here we have a breakaway gap followed by a power bar (!) followed by two runaway gaps.  Well, obviously there must be some cook book which tells you what to do when this occurs.  Not.

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Tags: gaps, gld, nov09, pgm, slv