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TFC Commodity Trading Forum

Re: Trades... take a look/ STR *PIC*

Well here is Gold which is still in that $100 channel going sideways. Historically Gold bottoms and starts its run up July 12th and the Gold stocks start their run up July 27th. The track record of that is impressive. Not 100% but impressive.The techncials are not outperforming yet so it does seem early. ABX on the NYSE broke below the May low 5 days ago and can't seem to re-clear that 34.82 level on the close. I'd be much happier to see price close above that level again. Very tight trading ranges and even with Gold backing off ABX does seem to come back and doesn't seem to want to flush out. That's the only good sign so far. Trouble is if one gets out and the run starts it gaps up and soars and you can't get back on without paying a hefty premium. So I'm hanging on to what I've got and even if it sells off and clearly breaks down, price will come back and find resistance where I got on in the 1st place. I'm using a much wider stop than I usually do as I do wish to catch a trend and stay with it rather than jack rabbit around with day trades. See Gold selloff today and tonight and then bounce back sharply. Up about $7 right now. It isn't acting like a market that wants to selloff hard. With no QE from Ben and disappointment from that Gold could have really sold off and it didn't. So sideways it is for now it seems.