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  • Gold Target for Week of April 19th

    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!


  • Gold Target for Week of January 11th

    Posted on January 11th, 2010 No comments

    Buy: $1128 | Stop: $1122 | Target: $11158 | Quick Target: $1136

    Finally! I’m a bull once again :) . After a dreaded downward and sideways cycle I can finally call myself a gold bull again. I’m back heavy on gold with buys in ABX and NGD. I really think we will see a big miner jump on this next run. At the same time you can expect a rebound with the Euro and Pound currencies. I’m buying when gold hits $1130 and selling at $1155. I’ll keep everyone update since I’m finally back in the action :)

    I hate those sidelines!

  • Gold Target for Week of December 14th

    Posted on December 14th, 2009 No comments

    Position: Neutral

    Some people have expressed some concern with my lack of updates recently. Well to keep it short, everyone fell in love when I told them to sell at $1180, so I can understand :) My position has remained a SELL since November 24th, so I figured there was no need to make any update. Today I’m moving into a neutral position which should turn into a BUY sometime in the second half of this month. Gold is approaching the 50-day MA and I can’t really see gold falling below that. That being said, if gold falls below $1120 I’m a bear and if gold moves past $1145, I’m a bull, whichever comes first.

    Enjoy trading everyone!