Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: back in the USSR / metals a sell?/Ronbo

Hey Ronbo. Hope you are enjoying yourself in home of the Oil and land of the freeze. Just thought I'd mention something that caught my attention. I expected the recent spike high of Gold to be the end of the run 'short term' with a pullback for a couple of weeks. And I've noticed everyone and his dog is saying exactly the same thing now including some hot shot analysts guru types as well. I never did like a lot of company on any trade I was in or going to make and that is a hell of a lot of company when 'everyone' just knows Gold is going to pull back here. And the Gold stocks that tend to lead Gold have also been underperforming and looking weak comparatively. Until recently!!! And Silver never did breakout of its 3 month channel and sold off while Gold soared. So it looked very convincing that Gold would pullback sharply and soon and join the herd. But a good indicator for Gold stocks is the Point and Figure chart of the bullish percent of Gold stock group called $BPGDM. When it crosses a particular moving average it gives a buy signal or sell signal. It just recently gave a buy signal and it doesn't often whipsaw. This blew my mind as I wasn't expecting it. And see Gold continuing to rally and not sell off as expected. Gold stocks have curled back up again and look bullish and Gold is not acting like it wants to pullback so far. So I would be hesitant to short it with the present price action. It looks like something out of the ordinary is cooking here. Don't know what but would not want to be on the wrong side of it. Silver is acting like an industrial metal and has been weak but will still follow Gold around to some degree in any case. Notice it's back above the channel top breakout pt of $39 again too. None of them are acting like they want to roll over and selloff to everyone's surprise. Just thought I'd mention it.