I see Gold as a difficult commodity to trade from a position trader's perspective. Too many times in the last 25 years it has done whatever it wanted. TA and fundamentals out the window. I am seeing ads for gold investments in TV frequently, which coincide with markets tops in the commodity advertised in most occasions. Being long now GC is crazy imo.
THX I might have already found something of my liking: http://finance.yahoo.com/q/bc?s=ASA&quicken=2 Noted that those funds move in a similar manner; they all had a significant run over the past three months are you not worried?
I wouldn't say "worried." Concerned about giving back profits, yes. That's why I hold a long term position in a fund, and trade in and out of the individual stocks.
Of course you are not worried, you are sitting on a nice bunch of dinaro already with that trade. I couldn't help noticing that this run has just started after months of decline that bottomed at the beginning of May. Looking at the charts theoretically the run should carry on...there's nothing at present that make me think a reversal could take place: maybe a correction or a retracement but not a sudden decline. At least that's my view.
Looks Like headin to 22+ Pair GG Time Fram Tue 09/27/05 10:30 AM Tue 10/04/05 04:41 PM 174 Hours Trend North Enter 19.2114 19.0036 18.7959 18.5881 PT 22.4275 22.5660 22.7045 22.8430 S/L 17.5492 15.6793 13.8093 11.9394 Trail (Deci) 0.0953 0.0954 0.0955 0.0956