purchased some GLD

Discussion in 'Commodity Futures' started by mikeenday, Jun 15, 2011.

  1. mikeenday

    mikeenday Guest

    @ 148.66 today.
    I might need some hand-holding here to keep this position for long.
    is GLD really tracking physiscal future contract tick by tick?
  2. Butterball


    So you bought but now you're not so sure anymore about it. Sell and do your homework. You can always buy it back.
  3. ===============
    Mike-GLD Up-Trender;
    I don't normally look @ many small time frame charts intraday . Simply prefer the probabilities of medium & longer term trends.

    However since the medium & long term GLD, & gold volume month contract are nicely uptrending ; i did study on your shorter trend question.

    5 day candlechart, 50 minutes & 55 & 58 & 60 minutes ;
    if i had bought @$148.66. I would consider selling on 55, 58 minute charts in the GLD area of $155.55 or $150.50.

    Not a prediction, parabolic time price looks like a nice uptrend;
    homework helps also .

    That was a bit scary to read Waren Buffet, Dave[FOX] Ramsey not liking gold.But IBD charts, other trusted charts & Jim Rogers not selling any commodities , help also.
  4. mikeenday

    mikeenday Guest

    I closed my position today with a profit of $55.
    Just don't feel like the way prices move. seems 2nd leg down is coming.

  5. =========
    Mike E;
    Nice work. I was going to suggest you think about taking some profits today or tomorrow, never like to lose much profit:cool: I thought silver & SLV was going to spend more time in April above $50.

    Silver still looks like it may downtrend lower, reguardless of Greece;
    GLD & gold are still uptrending nicely. Not a prediction.