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  • Gold Target for Week of July 20

    Posted on July 20th, 2009 No comments

    Signal: Strong Buy

    Buy: $945 | Stop: $933 | Target: $981

    Finally… I’ve been waiting for gold to break the $950 mark and it will today it seems. Last week we dashed upon an uptrend and we are posed to hit $980. My official target will be $981, its a very high target but I think this might be a large week for Gold. Helping this theory, the dollar is about to crumble. In the short term, $952 is our target, but later this week I’m looking at $981. The last few weeks Gold has been setting up for this big leg up. If everyone listened to me and got in at the early 900′s, you would all be sitting pretty! Enjoy trading everyone!

  • Gold Breaks into Uptrend

    Posted on June 18th, 2009 2 comments

    During the night gold reached $944. Taking that into account, it’s safe to say gold is back into an uptrend and all short positions should be taken off the table. We had a chance to take profit at $925 early in the week, hopefully we stuck to the plan and made some money. I look forward to reviewing the week on Friday. Take care everyone.

  • The Metal Boom or Bubble?

    Posted on February 16th, 2009 No comments

    Gold Coins & Bullion

    Gold Coins & Bullion

    If you’ve been playing commodities in the last month, you are one of the few cashing in. Earlier in the year I said Silver would lead Gold (it has), and Gold would hit $1000 USD per ounce by the end of Q1 (almost there). But the big question remains, will it get better or worse? Should we be taking profits or building? Here is my take…

    Gold: If you look at gold over 2008, it out performed the S&P dearly. If you look at gold in 2009, it’s been destroying the S&P. Will it get better for gold? Judging by the charts, it looks like Gold is poised to make a severe run upwards. Currently we sit at $942.50, and  I’m expecting $1000 an ounce in March and I don’t think we will see less then $1000 an ounce for quite some time. If gold shows a positive day Tuesday February 17, you can count me in as a gold bull. I will build positions in CA:HGU, AUY, GLD, and possibly UGL on specific pullbacks (assuming my charts line up).

    Silver: Unlike gold, I actually hold a position in Silver, both physically and with SLV. I have been holding since $12.30ish and a 2nd entrance at $12.90ish. Today we are sitting at $13.60. I’ve been a heavy bull on silver for the past weeks simply because the charts have looked better. With the dramtic stimulus package out of China and with the rest of the world doing the same, industrial metals such as silver and copper are going to ride the wave of anticipation and eventually true demand. Although silver doesn’t inherit the same type of safe haven status like gold does, it definitely resembles gold much more then copper. When I look at silver, I see a hybrid between copper and silver and in this stae of economy, something like Silver is going to lead the way in what I’m predicting as a boom for the metals.

    GOLD SILVER S&P 500

    GOLD SILVER S&P 500

     

    At the end of the day, assuming all my charts are in order, I’ll continue to be a bull on the metals. The chart above says it all. Enjoy trading!