A good day to take profits in the gold counter-trend

So we may leave money on the table but we are going to take some profits in the NEM, ABX, and AEM trades.


Buy oil using the USO ETF

I think the pullback on the events today “peaceful revolution” are actually bullish for oil. Who is next is the question. If the fervor for democracy continues, could Saudi Arabia be next?


RSI Divergence flashing warning on Market

I’m pretty convinced now that the relentless march upward of the markets is coming to a bump. No way of telling what sets it off but this significant divergence is revealing waning buying……


One piece of news trumps charts

Some chartists believe that all known events are already reflected in the price patterns in the chart. They spend a lot of time trying to divine MA crossovers, MACD, Stochastics, Resistance…


The US Dollar looks like its bottoming out

Dollar looks like its finding a bottom You can always find some fundamental reasons for diverging opinions, but I look at charts for the objective one. In this case despite the pessimism of the…


The technical edge - Gold is making a turn, the counter trend

Gold is in a downtrend. If you look at the chart you will see the double top with multiple red divergence paints showing before it rolled over. Now it’s flashing divergence in the trend and set…


SODA what a pop!

This is a repeat of a prior post. I only wish I had listened to my own advice as we made so much money on this trade we didn’t keep enough of a tail. We have a small but exciting position in an…


I still think gold goes higher here back to test it’s 50 day mark around 1378

We don’t have many friends in the Mideast. If Egypt is the strongest ally we have in the Arab world, it’s hard to believe that we can’t improve our position here. It’s either Woodstock or……


Extremely bad close today-BUY GOLD AND OIL HEDGE HEDGE

We are now heavy into gold stocks, ETF, and USO. The situation in Egypt going into a long weekend and the end of the month will make hedge funds nervous. Expect a very weak close. Hedge as much as…


Buy these two gold miners for a quick trade NEM ABX

The Fed decision today to leave rates unchanged should provide some near term impetus for gold to trade higher. These two prominent gold miners, NEM and ABX seem technically poised for a bounce.