Kinross Gold set up a few days ago, and now gold (GLD) itself looks like a short. Keep an eye on it.
Filtering by Tag: gld
Expect Gold To Return To $110 Shortly
Not a fan of the yellow metal here .. brutal trading action of late but if $110 is the target then it's worth playing if you can control your risk.
Golden Setup on a Dreadful Day
Even though gold is deeply out of favor and probably heading back below $1,000 an ounce, it doesn't mean it's no good to play from the long side during a trend down day in the broad market. You can see the jump in GLD as the market fell apart in the morning, but it was that lunchtime zigzag that I love to see that offered the low-risk trade. On a bad day like Thursday you're going to be keeping an eye on the bonds and gold for a play.
Click chart to enlarge
Gold (GLD) Looking Rusty
Candlevolume chart of the GLD (Inception date: 11/18/2004) ... the width of the year shows you how active trading was ... 2014 shaping up to be a "thin" year as price falls and activity drops. 2012 thin, 2013 thinner, 2014 thinnest. You can see that in the early years of the boom, 2004 05 06 07, there was very little trading in the GLD. Everyone who purchased after May 2010 and held is underwater. A lot of latecomers are bagholders now, that's for sure.
Click to enlarge