Monday, July 09, 2007

GLD (Gold) Makes A 4 Week High



It was just last Wednesday I posted about how everyone is bearish on gold and today we saw gold rally over 8 dollars.

Whenever everyone agrees that a market has to go up or has to go down, I always look for reasons to take a trade in the opposite direction.

I got long GLD today in the morning and my stop is below last week's low as indicated in the above chart.

We'll see if this is the beginning of a move up or just another chop fest.

2 comments:

FTGGOG said...

What's your initial target for GLD?Thanks

Kevin said...

The year high

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