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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 November 23rd

    Posted on November 23rd, 2009 No comments

    Sell: $1160 to $1180 | High Target: $1175-80

    Gold is moving up and the charts keep getting stronger on the daily, but only on the daily. Right now we are open game for $1180.40 on the daily but I’ve taken notice that our weekly and monthly charts are extremely over stretched. At this point I would take profits in gold and stay on the sidelines. I’m anticipating a large drop before the end of November. Hopefully we will find a good buy opportunity sometime in December, but at this point I’m making the call to take profits. Enjoy trading everyone.

  • Gold Target for Week of November 16th

    Posted on November 15th, 2009 No comments

    Buy: $1115 | Stop: $1100 | Target: $1136 | Quick Target: $1125

    Wow, what a rally we are seeing. We are making new record highs every week and I’m guessing all my readers are cashing in non stop. I feel that we might peak out at 1135 during this week and go sideways for a week or two. I still think there is a play for the upside during this week but I’d definitely play with caution. Once we hit our upside target, take your profits and sit back till we see a good buy opportunity. Happy trading everyone!