Gold Monster
Tuesday, February 22, 2011
Monday, February 21, 2011
GOLD SILVER
We saw some pullback in the Asian Markets. Should stay around these levels until things calm down in the Middle East.
Market Update
Keep an eye on silver this week. Even with the last 2 days I think we are having a short squeeze. Could see $35 by next Monday.
Saturday, February 19, 2011
Wednesday, February 16, 2011
SP500
If things go as planned look for a pullback Thursday morning. We should see the SP500 go to 1318-1320.
Nothing much else going on in the market. I expect a slight pullback in the PM's in the short term. I shorted GBP/CHF looking for a slight gain.
Nothing much else going on in the market. I expect a slight pullback in the PM's in the short term. I shorted GBP/CHF looking for a slight gain.
Tuesday, February 15, 2011
Precious Metals
SILVER: This is the moment of truth. Is Silver going to form a triple top and pull back or is it finally going to break on through to the other side? It will break through that resistance above $31oz within the next 3 weeks if not this week. Nothing but blue skies from there. $35oz silver will be here by June.
GOLD: Its slowly working its way back up. It just topped the 100dma. That is a good sign. By next week we might be testing $1420oz.
PALLADIUM: We should see a pullback at $840oz. If we can pullback to the $780-$790oz mark Id be a big buyer.
GOLD: Its slowly working its way back up. It just topped the 100dma. That is a good sign. By next week we might be testing $1420oz.
PALLADIUM: We should see a pullback at $840oz. If we can pullback to the $780-$790oz mark Id be a big buyer.
Forex
Sell out of your positions for the time being. You should have made over 100 pips on the EUR/USD short, 80 pips on the AUD/USD short, and 80 pips on the USD/CHF long.
Sunday, February 13, 2011
Stock Market / Forex Update
STOCK MARKET
Continue to ride the stock market as long as you can. Dont fight the trend. But be very very careful. The technical charts show a narrowing gap and we can be in for a correction. Keep your positions but have sell stops in place.
FOREX
In the short term look for the dollar to build strength. Id look for opportunities to be short EUR/USD and AUD/USD and long USD/CHF.
Continue to ride the stock market as long as you can. Dont fight the trend. But be very very careful. The technical charts show a narrowing gap and we can be in for a correction. Keep your positions but have sell stops in place.
FOREX
In the short term look for the dollar to build strength. Id look for opportunities to be short EUR/USD and AUD/USD and long USD/CHF.
Market Report Week of Feb 6 - 13
GOLD
We saw gold start the week at $1349oz and get up as high as $1369oz finally settling at $1356oz. While the long term signals remain bullish we may see a small pullback in price this week to around the $1345-$1350 area.
SILVER
Silver closed the week at $29.88oz. It started the week in the low $29's and hit as high as $30.25 this week. The last 3 trading days were somewhat quiet. The 6mo silver chart is showing a triple top which may be bearish for the short term. If silver can make a push over the $31oz mark and stay there for a few days we may see a major run to the upside. I would wait to receive some kind of confirmation the first few days this week to see where the market may be trending.
We saw gold start the week at $1349oz and get up as high as $1369oz finally settling at $1356oz. While the long term signals remain bullish we may see a small pullback in price this week to around the $1345-$1350 area.
SILVER
Silver closed the week at $29.88oz. It started the week in the low $29's and hit as high as $30.25 this week. The last 3 trading days were somewhat quiet. The 6mo silver chart is showing a triple top which may be bearish for the short term. If silver can make a push over the $31oz mark and stay there for a few days we may see a major run to the upside. I would wait to receive some kind of confirmation the first few days this week to see where the market may be trending.
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