Discussion in 'Metal Futures' started by Diamondtrim, Mar 24, 2004.
I think this is a great pullback opportunity. Buying some MNG, CGR, EGO, WTZ, MRB.
Still looks good as far as $XAU uptrends are concerned;
noted earlier $xau uptrends do NOT necessarily mean DIA, SPY, SMH, QQQ downtrends.
Last years low for the gold index was in the first week of april,and in 2002 the low for the xau was in the second week of april.Depending on your flavor ,stocks,options or futures,there might still be a little room on the downside.Pick your lows between now and the middle of april keeping in mind the rest of april will probably be relatively flat.If the last two years are indicative of golds performance, from may 1st to may 31st the price of gold will move up 15 to 25 dollars.Also keep in mind there will be profit taking at the end of may on the futures and options expiraton date.goodluck
yes but not as good as stocks that have 100% up room to go!
I should have said the gold sector will experience profit taking at futures and options expiration date.
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