Posted on April 18th, 2010 No comments
Sell: $1145 | Stop: $1151 | Target: $1128 | Quick Target: $1137
It’s always extremely difficult to fight a trend, and in this case selling gold is doing exactly that. Like I’ve said in previous posts, we are entering the largest bull in history but on the way we are going to see pullbacks and corrections. Instead of shorting gold at this point, I’ve only liquidated my positions and taken a short on the QQQQ and SPY. Since we are in a bull market, my short targets are very tight, but if I were to loosen them up, I can definitely see gold getting back to the 1075-1080 range before it decides to climb back up.
Enjoy trading everyone!
Posted on February 22nd, 2010 No comments
Buy: $1115 | Stop: $1106 | Target: $1149 | Quick Target: $1135
Hey guys, I don’t see gold breaking past the $1150 barrier this week although I see it in the future cards. Look for the quick move up to $1135 and start your buying around $1115. For all the gold bugs out there, we should be at $1500 right now but you can thank the Euro zone for ruining that party. Until Greece figures out their debt problems, gold will not be off to the races. Happy trading!
Posted on January 11th, 2010 No comments