Gold is falling -- DGP -- deleted

This morning I placed a sell order in my Barchart Van Meerten New High portfolio for the
 Gold Double Long ETN (DGP) for very negative price trends.  One of the last things I do before I push the sell button is to run a 60 minute chart that shows the price against the 20, 50 and 100 hour moving average.   There is nothing worse then selling a stock because all the technical indicators are negative and not realizing that the stock is recovering from a temporary set back.  This last step doesn't prevent it in all situations but it helps.

You can see by the chart that it was time to cut this one loose.  The technical indicators I used to identify the potential sell were:

• 100% Barchart short term technical sell signal
• Trend Spotter (tm) sell signal
• Trading below its 20, 50 and 100 daily moving averages
• 10 new lows and a loss of 11.07% in the last month
• Relative Strength Index of 30.71% and falling
• Trading at 36.16 well below its 50 day moving average of 40.21.

Jim Van Meerten is a professional investor with over 40 year experience in investing in stocks, mutual funds and ETFs.  He shares his knowledge on Barchart in his daily blogs -- Barchart Portfolio Blogs.

Through Marketocracy Capital Management you can have a Separately Managed Account that mirrors his Barchart Van Meerten New High portfolio.