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If it moves higher out of the coil would you be a seller and look to re-enter once it pulls back?
We booked almost a 20% gain on the metal portfolio this morning. I’m going to just wait patiently for the next DCL to re-enter. If gold does manage to break higher even though it’s getting very late in the daily cycle it’s still likely to give back those gains when it drops down into the DCL so I don’t think one has to worry too much about missing the move this late in the cycle.
Gary…your outlook on the SP500?
My outlook is Fed intervention to keep it propped up for as long as possible while they continue to taper. When the market will finally break free of Fed manipulation is anyone’s guess. I don’t have any tools that will work in an artificial market.
Nicely done Gary!
Not sure my previous post passed, so retrying here: Gary is too kind to keep the scam from some “anonymous” posters, who apparently got very frustrated by their own losses in the past, and take Gary responsible for it: this is usually the definition of very poor traders, who will blame others for their own mistake. I am not (yet) a Gary’s sub but I am sure he has somewhere the usual disclaimer in his registration documents, to not use blindly his advises for trading but us proper money mgt. Gary: it is great to keep negative comments of course, but as long as they are not insulting. Here they are, and add nothing to this blog, you should remove them… Personnally, I thank you for sharing your work.