2008-10-12

TRADE UPDATE: All that shines is not Gold

My Development as a Commodities Trader: All that shines is not Gold

My first trade was stopped but I see the same trade valid again and I am going back in. Stops higher than 940 this time. Break below 830 to signal trend confirmation and place to add to shorts.

1 comment:

  1. In addition to selling GOLD, I am also entering a pair trade. Buy Platinum (PLF9) Sell Gold (GCZ8/ZGZ8) for equivalent amount (1 GC ~= 2 PL futures). The pair trade is a direction neutral view on the precious metal cycle. I feel the selling on the PL smells of panic so either it will bring down Gold eventually OR will lift Platinum.

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-VS