I will say this about GLD, on the move up today, the RSI went above 70, then formed a declining bearish flag while the pps went higher, while the stochastic went above 80, only to notch lower also, meaning GLD moved up on weak technicals, but I still think the risk/reward is better if GLD gets to $95 brick wall and fails.
here's the chart- GLD resistance is the 20-day $92.77, but look how it's already broken above the downtrend line and the stochastic (bottom here) is turning up, who knows how the jobs # will affect gold tomorrow, I would be out of GLL, if this breaks above the 20-day, $95-97.50 is a done deal. chart> http://tinyurl.com/dkzjj9
Charts smarts. I have never used a chart in my investment thinking (over 30 years). They tell you only the past. I do my investments by feel. I am very good at sensing what the market segments want to do and I react to them. The times I am wrong (not often) I react quickly and take my losses and move on. I still hold GLL at 14.40 and see no reason to change.