notice a little divergence? mean reversion trade?
We have all heard the numerous reasons to buy and hold gold. They include: Hedge against geopolitical unrest Hedge against the sliding dollar Inflation and deflation hedge Diversification …and many more The trade I am looking at and hence the charts here are on the popular gold etf; GLD It’s no secret and the […]
We're playing this very carefully, but Silver did now construct a fairly solid bottom. As of this morning it is moving up to the $35.80 mark again, which has served as resistance on a daily closing basis for the past nine trading days. A move above that level could lead to higher levels. Gold is […]
A little perspective on the move in gold should go a long way. The inverse head and shoulder pattern that developed from November to March hit it's ultimate target almost to the dime near $153 (on the GLD). After the recent 6.5% correction the GLD found support at the rising 50 day […]
This here is the martini-hour thoughts newsletter summary sent to premium members. I am posting it today on the public blog here as a sample, but without the charts. Enjoy! Wednesday, April 27 Just as we wrote in the morning line-up letter, the morning ended up fairly boring in terms of pure […]
I just wanted to reiterate this: Copper is often being looked to as a leading indicator for global economic growth. Whether that's true this time around or not is fairly irrelevant for my note here. Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to […]
An early selloff led to a classic intraday double-bottom and ended up with a rally. On the S&P500 daily charts we now have the 50 dma and the critical $1300 right here and looking at the overnight futures (up 0.75% right now) we might open above those two key levels. Whether that ends up being a […]
Note the potential inverse head and shoulders pattern that setup in the GLD. If this plays out textbook, the final profit target would be near $53 and a stop-loss could be set near $135.
After a two week 'resting' period silver and gold look ready to party at higher levels. Look at the triangle-shaped consolidation pattern in the chart below. I will be long at the market with stops at $33 and targets at $39. It is of course possible this is some sort of double top, but given […]