Gold Market – Page 5 – Best Online Trades

The Gold Price and GLD ETF Takes a Big Body Blow Today

February 7, 2012December 4, 2009 by Tom

Gold is getting hit bad today and if you look at the dollar amount on kitco.com it looks a lot worse than if you just focus on the price chart. The GLD ETF was overdue for some type of consolidation and using the employment report news today seemed like a good enough excuse for the big money crowd to slam it down.

Right now my take is that we are going to enter some type of sideways consolidation perhaps a month long before going higher again. I say that because I think today’s price destruction in the GLD combined with the huge volume should be enough damage to start a trend change/ and or consolidation.

The chart above is the GLD ETF in the 2007 to 2008 time frame. The red arrows point to heavy selling days that damaged the up trend enough to get the GLD into consolidation mode for a while. So I am expecting something similar to what occurred in the chart above.

TLR Timberline Resources About to Bust Loose and other Market Ramblings

February 7, 2012November 25, 2009 by Tom

The gold price move seems to be well underway now and today we saw the US Dollar Index have its worst one day drop since July 31st. The dollar could be entering free fall mode for a week or two that forms some type of capitulation low. Gold is overbought now based on RSI levels, but at this point I am not seeing any negative divergences. So it could get a few drops here and there and maybe even form some type of consolidation pattern only to take off again later.

The gold bulls live above the 70 RSI level and they should control the show for at least a couple more months. The way the gold parabolic blow off and also the broad market are setting up is for a big finale of a run that coincides with the US Dollar Index hitting support near the 70 range.

In the mean time TLR continues to behave quite well and now looks poised for the classic ‘15 minutes of fame’. Well actually it will be more than just 15 minutes. Today is probably the first day of a 5 to 10 day rally in TLR. I am looking for 2.00 as a target to exit. I think it may have a decent chance to get there within the next 5 to 10 trading days.

Gold Price Set to Go Parabolic into End of Year

February 7, 2012November 22, 2009 by Tom

It appears that the gold price is setting up to move into a parabolic type advance now. There was a lot of sideways cause built up since the March 2008 beginning of pattern and now some of that cause is being used up but I suspect it is nowhere near being finished yet. I would … Read more

Yahoo Finance On Top of the Gold Price Trend !

February 7, 2012November 17, 2009 by Tom

yahoo

Congratulations to Yahoo Finance! Have you noticed this yet? Yahoo Finance on their homepage has included both the oil price and the gold price on their main quote summary section on the top left of their site.

Previously there was just the Dow, Nasdaq S&P500 and the 10 Year Bond, but now they have included these two commodities on their main page.

I believe this occurred near the time when gold hit above 1000 per ounce. Perhaps it was some time before that (I don’t have the exact date) but still I find it to be a fascinating psychological trading imprint of sorts in the history of the gold/commodity bull market so far.

By putting oil and gold on their main home page finance section they have legitimized this market sector and maybe opened the doors for more mainstream investors to come into or at least follow the commodity market.

But I consider Yahoo Finance to be more cutting edge and on top of more subtle market trends. But still, it took them until 2009 to finally acknowledge gold and oil on their main quote page.

TLR Timberline Resources Tests Demand

February 7, 2012November 17, 2009 by Tom

TLR Timberline Resources did an important test today of support and swung down to test demand just above the 1.00 level. The test passed with flying colors as we say almost a complete reversal and close near the top of the range. I think TLR still has more work to do but it appears to … Read more

TLR Timberline Resources Looks Like an Outstanding Buy Right Now

February 7, 2012November 11, 2009 by Tom

I decided to go long TLR Timberline Resources right now for a while. This is a trend trade and I intend to hold it through the end of this year. I expect the gold price to maintain a bullish bias going into the end of the year and into the first quarter of next year … Read more

It May be Bounce Time

February 7, 2012November 3, 2009 by Tom

I close out my bearish short positions today in TZA and XLF. I may go short again tomorrow, but for now it looks like this market is getting set for some kind of an upside bounce on the Fed decision. It could flip either way at this point, but the decline so far has been … Read more

Be Careful with Gold Now

February 7, 2012October 26, 2009 by Tom

It seems that the broad market correction is in full swing now and unfortunately this also looks like it means the gold market is going to take some bad hits as well. Both the GDX gold stock mining index and the gold price as represented by the GLD ETF are taking hits today along with … Read more

The Million Dollar Gold Trade

February 7, 2012October 14, 2009 by Tom

Is it possible to prepare for a trade 5 or 10 years ahead of time? It almost seems absurd to even think a few months out sometimes in the trading biz because of the constantly changing variables. This is true for many individual stocks, but for larger markets and indices I like to try to … Read more

The Gold Price Continues to Look Extremely Bullish and is Telegraphing a Signal

February 7, 2012October 5, 2009 by Tom

The gold price as represented by the GLD ETF is flashing a huge warning signal right now and is in a stance that suggests it wants to get a MASSIVE upside breakout during the next 10 trading days. If I am correct then the ideal exit point for any precious metal related trades could be … Read more