FWIW gold futures (daily) are putting in a very long tailed
hammer off support as of now. This is not reflected in GLD market
hours only data. Of course we'll have to see how the day
finishes.
Wouldn't bet the ranch on gold and silver seasonals. April
is a "flat" month from a seasonal standpoint. Gold was up 8%
in April. And actually, Gold is pretty much seasonally strong
into early June then weakens. Silver is only strong to
mid-may then very weak into the end of june.
Didn't you see the chart Matt has posted the last few days? I
have traded Metals for 20 years and it generally is a weak time,
Good luck with your position.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
GLD
Posted by rbreese on 3rd of May 2011 at 10:38 am
Bought a lot of GLD 6/150 puts at 3.45 . The key is if SLV breaks 42 GLD will break hard too. We are into seasonal weak period too.
FWIW gold futures (daily) are
Posted by Vida on 3rd of May 2011 at 11:13 am
FWIW gold futures (daily) are putting in a very long tailed hammer off support as of now. This is not reflected in GLD market hours only data. Of course we'll have to see how the day finishes.
Wouldn't bet the ranch on
Posted by parrrich on 3rd of May 2011 at 11:01 am
Wouldn't bet the ranch on gold and silver seasonals. April is a "flat" month from a seasonal standpoint. Gold was up 8% in April. And actually, Gold is pretty much seasonally strong into early June then weakens. Silver is only strong to mid-may then very weak into the end of june.
Silver / Gold
Posted by rbreese on 3rd of May 2011 at 11:14 am
Didn't you see the chart Matt has posted the last few days? I have traded Metals for 20 years and it generally is a weak time, Good luck with your position.