Tuesday, January 08, 2008

Profit Objective Reached In Gold



Today Gold was up sharply and reached my objective of 87 to 88. I exited 3/4 of my long position at 87 and held just a very small piece just in case we get some more follow through tomorrow. This turned out to be a very good trade and I know many of you got long gold with me...What a great way to start off the year...if only all of our trades would work this well.... (sigh)

5 comments:

V said...

Hi Kevin,

Looks like Google went the other way in the symmetrical triangle setup, if it was to break upside. It blew past 50dma, is at 100dma. Any idea where the next support might be.

-V

Kevin said...

no opinion....this is not my kind of trade.

benjamin_ng said...

Hi Kevin,

Thanks for Gold. Your work is always insightful. I hope you have time to continue posting your leading XAU and USD forecast every couple of months.

Take care,

benjamin_ng said...

Hi Kevin,

On another note, do you do any cycle work or astro analysis?

Some of the indicators that I track say January 14-16th is a big bottom in S&P500.

We'll see.

Good luck

Romeo Bravo said...

Kevin:

Great timing in the pick of top on Gold! Short or long term top, we'll see I guess but great trade!

rb

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