"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, July 14, 2009

Revisiting IYR

Here are 60 minute and daily charts showing the situation in the real estate ETF. I want to remind readers that I do not play with fire and hence the SRS and other short positions I still hold are simply dragging at the performance the gold stocks are showing the last couple days.

Still, I will have to think about aborting the shorts if things go past the limits that are nearing, like the one shown on the daily chart here.