A lot of hate for gary in the past from trading community in general. For the record, he was pounding the table from last summer 2018 low. 90% of other bloggers, wave people etc were calling for new lows. Trendline/goldadvisor guy for example that staggering posted over and over.
New multi-year high in gold; new 52 week high. Surely that has garnered the attention of all sorts of fund money - both here in the US and abroad.
I am hopeful for a pullback...I really want to see 1359 tested for support. I think that would be a great point to really load the boat, perhaps even reload on some LEAP options that are not too far out of the money at that point.
What a day. I was way the hell out of the money on most of my GDX 25 calls that expire tomorrow and then they came roaring back. Got above break even on them and did some ass kicking on my Sept calls. A rare day of trading that played out just right.
Yeah, we will see. Due for a breath, depth and duration will be interesting. Most of my charts just look like there is a little more in this move and I guess we will criss-cross 1400 a few times before we are done with it so a top price of 1420 would not surprise me.
DXY looking like it is putting in a bottom... that will clip golds wings short term. Gold needs to breathe here, don't be disappointed she takes a break, we have done good work... time to consolidate it.
Once this bottom finally gets carved out. Think it's going to be a big rally where people sell too early and it keeps going up generally into may or so maybe before the dump into summer. Not saying there wont be pull backs of course.