Gold just puked again - hit 1073 and change in over night futures trading, before bouncing. Is this the test of the lows (overnight low was about 1080)? Will it hold?
Tom
Market Commentary | My Blog | TSP Talk Plus ||
I am not a Registered Investment Advisor. Do your own due diligence.
Gold just puked again - hit 1073 and change in over night futures trading, before bouncing. Is this the test of the lows (overnight low was about 1080)? Will it hold?
Tom
Market Commentary | My Blog | TSP Talk Plus ||
I am not a Registered Investment Advisor. Do your own due diligence.
Rules:
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Rules:
- Trade what you see, not what you believe
- Don't put stuff in your signature that a Mod doesn't like
"Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle
Great Tools:
http://www.CreditKarma.com
http://www.Mint.com
http://www.SaveUp.com/r/nmJ
It tested the prior lows (1080), which is not a bad thing, and briefly flew down to 1072. If it can close above 1080 (currently 1082), that would be a good thing and perhaps considered a successful test and you may see buyers step up. Otherwise, a close below 1080 and 1067 may be next.
Tom
Market Commentary | My Blog | TSP Talk Plus ||
I am not a Registered Investment Advisor. Do your own due diligence.
It just hit 1088, but the short sellers may pounce on this rally. Good test.
Tom
Market Commentary | My Blog | TSP Talk Plus ||
I am not a Registered Investment Advisor. Do your own due diligence.
A little follow-up. I decided to bail on NUGT today selling at 3.57. This was a small gain after coming back from some stiff losses. I think it can hit $4+ and there's an open gap near $5, but I hate holding these gold ultra ETF's too long. I had a 13% gain after 1 day and that vanished quickly - so volatile. They are not good investments, just short-term trading vehicles as we've discussed.
Tom
Market Commentary | My Blog | TSP Talk Plus ||
I am not a Registered Investment Advisor. Do your own due diligence.
http://www.cnbc.com/2015/08/10/gold-...-fed-hike.html
Gold dropped on Tuesday as the dollar strengthened after China devalued its currency to prop up its economy, adding to the downward pressure on bullion from a looming increase in U.S. interest rates.
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