Given UUP do you think this gold pullback is anything more than
profit taking that won't stick, or is it getting lumped in with
crude and commodities and the idea of a bottom here?
hard to say, if crude were to
really pullback good i.e. breaks the uptrend line and pulls back
$20 - 30 bucks, then gold might suffer too.
Again, we are looking for a short
term bottom in the market, so maybe commodities and crude oil
pullback for a month while the market puts in an oversold rally,
who knows. If you are a short term trader, you would have sold the
gold stocks, depends on your time frame etc. We had nice gains in
this sector and we hate to give all those up
Gold pullback
Posted by kreem on 15th of Jul 2008 at 11:40 am
Given UUP do you think this gold pullback is anything more than profit taking that won't stick, or is it getting lumped in with crude and commodities and the idea of a bottom here?
Views anyone?
hard to say, if crude
Posted by matt on 15th of Jul 2008 at 11:45 am
hard to say, if crude were to really pullback good i.e. breaks the uptrend line and pulls back $20 - 30 bucks, then gold might suffer too.
Again, we are looking for a short term bottom in the market, so maybe commodities and crude oil pullback for a month while the market puts in an oversold rally, who knows. If you are a short term trader, you would have sold the gold stocks, depends on your time frame etc. We had nice gains in this sector and we hate to give all those up
I think Crude and Gold
Posted by hornsant on 15th of Jul 2008 at 11:50 am
I think Crude and Gold are looking for a balancing act somewhere at 110/120 Oil and 1100/1200 Gold, to soon to say