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TFC Commodity Trading Forum

Re: Aug Gold/ Remains in its Channel/Lee

No I don't follow the options closely. Too much to track. I prefer the chart and don't like to get too sidetracked. But with the options about to expire I did read that some volume came into Gold that 'just happened' to make the holders of 1600 Gold options get back into the money just before expiration. I'm not into chasing down conspiracy theories although certainly realize the hanky panky that goes on but stand aside when this type of thing occurs. I'm not a big enough player to play that game. And no the major Gold stock ETF:GDX is not doing well at all as ABX is a major component of the ETF and it fell out of bed today with a poor earnings report. I stay away from any stock when earnings are close by. Good thing too. A few other major Gold stocks report earnings today and Friday as well and will move one way or the other severely impacting the Gold ETF. So with recent 'inaction' I have successfully kept all of my money and am thrilled to death about it,LOL...........................preservation of capital is always Job #1!

Gold is still in its channel below the broken 3 year uptrendline and has a lot to prove to get bullish here despite the historically bullish seasonal time of year now.