GOLD TRADE ALERT (1:45 pm EST)
The time has come to cover our short position in gold. Gold is up strongly today and has flashed an upward momentum signal which may be indicating the bottom to the correction is in. We are getting out with a decent 5-6% profit since our short sell alert on 4/29. Silver is also rising strongly today. Note that silver broke below its $22 crash low on Sunday and earlier today before rising towards $23, but gold did not break below its $1321 crash low before surging. This is another strong bullish signal in the precious metals today. We will now be looking to go long in gold and silver, possibly over the next few days, but I would like to see a little more follow through with this reversal before doing so. We are therefore taking profits today in our gold short positions and standing aside gold and silver with the intention of going long in both metals soon.
The time has come to cover our short position in gold. Gold is up strongly today and has flashed an upward momentum signal which may be indicating the bottom to the correction is in. We are getting out with a decent 5-6% profit since our short sell alert on 4/29. Silver is also rising strongly today. Note that silver broke below its $22 crash low on Sunday and earlier today before rising towards $23, but gold did not break below its $1321 crash low before surging. This is another strong bullish signal in the precious metals today. We will now be looking to go long in gold and silver, possibly over the next few days, but I would like to see a little more follow through with this reversal before doing so. We are therefore taking profits today in our gold short positions and standing aside gold and silver with the intention of going long in both metals soon.
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