Blog Archives

Just went Long the GLD 170 November Call Options

I just went long the November GLD 170 Call Options at 3.30.  I think gold is about to bounce back up to the old highs like a boomerang.  We are still in the very favorable seasonal time frame for precious metals. Yes, September was a disaster for the precious metals

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Posted in Gold Market, Stock Option Trade
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GLD Looks like a Buy above 151

The GLD ETF looks like a buy above 151.  The gold price has been quietly consolidating in sideways fashion the last month or so and all things considered has not undergone significant price destruction. The GLD appears to be in a coiled state right now and ideally would start to

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Posted in Commodity ETF, Gold Market
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Gold Does Exactly what it needed to do today

The gold price did exactly what the doctor ordered today.  It consolidated in a small hammer doji type candlestick after yesterday’s monster gains.  This is a bullish sign and bodes well for future days weeks ahead. The GLD ETF could easily pull back to 140.72 tomorrow or Friday and the

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Posted in Gold Market
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GLD ETF Pulls a Rabbit Out of the Hat

The gold price managed to pull a rabbit out of the hat today and blast higher, which structured the weekly MACD into bullish crossover mode.  As of yesterday there was a risk that the GLD ETF would not be able to achieve a bullish weekly crossover and that instead we

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Posted in Commodity ETF, Gold Market
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Can Gold Break Out to a New Life Time High Next Week

I just reviewed the weekly GLD gold price chart versus the MACD histogram and I think I have to come to the conclusion that there is a pretty good chance that next week is the upside weekly break out week for the GLD to new life time highs. The nice

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Posted in Commodities, Commodity ETF, Gold Market
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Gold Price ETF does a Teaser Life Time High Today

Today the gold price ETF and the spot gold price rallied up to life time highs but then sold off end of day to settle and close under yesterday’s low.  I have seen this type of action before on the gold price as it attempts to break out to new

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Posted in Commodities, Gold Market
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A Potential Bearish Take on the GLD SPDR Gold Trust ETF

There is always a bullish and bearish take on any stock or index at any particular time.  The recent price action in the GLD ETF appears to have a bullish tone to it.  But when we look at the larger structure there emerges a potentially different scenario. This potential bearish

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Posted in Commodity ETF, Gold Market
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GLD ETF Soundly Rejects the 129 Range

The GLD ETF today gave a good signal that it really wants to reject the 129 range which is the bottom of the current extended trading range.  Today’s price action in the GLD ETF is the type of helpful clue that says GLD should be able to work its way

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Posted in Commodities, Gold Market
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Spot Gold Price Still Clinging to Support Range

The spot gold price is still holding above the 1314 support range despite the recent days violent volatility that kept traders guessing if we would get a support range break down or confirmation of holding support. I suspect a lot of sell stops have been triggered at the bottom of

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Posted in Commodities, Gold Market
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GLD ETF Showing Nice Upward Reaction off of Key Trading Range Support

The GLD ETF which closely tracks the gold price is showing a much needed strong reaction off of very key trading range support at the 129 level.  The test of the 129 level was a very key test for the gold market as a break down through that level would

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Posted in Commodity ETF, Gold Market
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