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Gold
Mar 26, 2006 23:58:47 GMT -5
Post by David on Mar 26, 2006 23:58:47 GMT -5
Gold Mkt Update - Appears to be in a corrective phase that could suddenly take Gold down to the 480-500 ranges. The force or the depth of the move is of little interest to us; all we are concerned with is waiting for our indicators to enter the oversold ranges and then we will start looking into the possibility of taking new positions. We have proven that one can make money and quite a bit of it by completely avoiding the gold sector when necessary. 3/21/06 David - Second Up TL has been acting as resistance since early march and. Prices closed right at TL (560.6) on Friday. Short here is very risky tho espeicially after such a positive day of trading on Friday (prices never traded much lower than open and closed near HOD). Aware of this risk, I am going to go short at unchanged or better with a stop at 572. I picked that number because and trading at this price level will be too bullish to stick with a short position.
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Gold
Apr 2, 2006 21:47:58 GMT -5
Post by David on Apr 2, 2006 21:47:58 GMT -5
Stopped out on short play at 572. Market made new highs later in the week. Watching this week to see if new highs are confirmed by indicators or not. Although cannot completely rely on indicators when volitlity levels are as high as they are in a mkt such as this one.
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Gold
Apr 16, 2006 17:10:15 GMT -5
Post by David on Apr 16, 2006 17:10:15 GMT -5
Mkt Update - Gold has continued to soar up and once again we are not making any excuses for its movement up. All along we have stated that we have been waiting for an oversold condition to develop and until that occurs we will not initiate new positions in this sector. However we did re deploy this money into Uranium and Palladium both of which rewarded us very handsomely to date. In addition Palladium was and still is far stronger then Gold in terms of relative strength and it also was thee best performing precious metal last year. One other major bonus is that no one is talking about palladium and that continues to make us very happy. So the only way we will play Gold till our indicators enter the oversold ranges is via the two strangle plays we put out. 4/11/06
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