Friday, July 4, 2008
Gold Technicals - ready to run to 1500 now imo
This view is aligned with:
1) Fundamentals -- move to financial assets with no counterparty risk.
2) Committment of traders on the CBOT -- formation bullish
3) Big Bull since 2001 -- They say the trend is your friend.
We need to design a trade that takes advantage of a *possible* move to 1500 for gold, taking in consideration the fact we can be wrong. the next post will consider such a trade.