Did gold lose its luster?
If one looks at the gold futures or gold mining stocks, it indeed feels like that.
And that is what our Superior Profit traders love to see. Something otherwise valuable fall down in price. And they - using Superior Profit signals - try to buy it at or near the bottom. Probably when others are selling. And by the time others wake up to gold, Superor Profit traders sell, at least partial position.
Lets look at our Sonar as of around 1 PM (EST). We tend to follow several gold mining stocks. ALL of them are up today. Significantly. On top of that, several have shown bullish Stretch Release signal.
When we see that, we tend to look up the stocks. Lets have a look at one of them. I won't pick the one with biggest up move today. If you look at all these stocks through At A Glance, you would know. I leave the other stocks to your good analysis. I will look at Barric Gold (ABX).
Looking at Map view, ABX is at Pendulum Low.
So here we are. A number of gold miners moving up sharply. Most of them (and ABX) at Pendulum Low and tiling up with bullish Stretch Release and bullish Movement.
What would you do if you are Longer Term Investor?
What would you do if you are a Swing Trader?
What if you want to take chance at Pendulum Low using Stretch Release based on the overall strenght of the industry today?
There are many choices. Once you know which one is for you, you may take it decisively.
If you are not sure of your style, you may visit our Education center and start there to see what works for you.
Whatever be your style, Trade Profitably - no reason not to do so.
PS: Oh ! Did you look at gold commodity futures or ETF? We usually do that too when buying / shorting a stock that is tied to some underlying commodity. I leave that to your good hands
Citizen of Main Street.