Oh well,I never really did like Monday,looks to be another bore.If you took a peak this weekend I apologize for not posting,I promise to post on the weekend when I have a larger following.
On to the markets and what to look forward to this week. Not much going on today and not expecting much tomorrow because the markets will await The Fed announcement from their 2 day meeting on Wednesday and then Friday is the all important Unemployment number for the month of January.
As I write it is approximately 3:20 EST so the markets are still trading and I really do not see much going on. Great news is that Feb Gold expiration is now in the dust and we can hopefully get some upside movement going here-Gold currently is @1654 & Silver is just below $31 @ 3089.
I am not expecting much downside from these levels but one never knows!
Stocks are up slightly and I have for the first time in a while, established some short positions in the Dow. I'll see what happens through tomorrow to see if whether or not I want to hold.
As you may have seen my opinions from the start of my site, I am a firm believer that Gold is going to go alot higher and that I have my doubts that the stock market can keep going much higher than where it currently sits. The thing you must understand is that I will trade based on what I see in the markets on a day to day basis and if I am wrong and the market is not doing what I expected it to do in a specified time frame, most of the time I will exit my trade and keep watching for another opportunity. The longer you hold onto a position, the longer you are exposed to RISK-it is a crazy world we live in today and anything is possible. Always keep that in mind!
There are some calls for Gold and Silver to fall rather substantially from the current levels and although I disagree with this I have to be cautious and worn others who are trading because the action in the metals for the past 5 trading sessions has been absolutely putrid.This is another example of how I can hold a very strong opinion but I am simply cautious because I need to see some buying to come in and show me that the market wants to indeed go higher.
I will leave you with this today-I heard form a distance, on the TV that Gold stocks hit a 52 week low today.I love how they talk about Gold when it is doing poorly but when it rips up 20 or 30 dollars for the day,you do not hear a word of it on financial television. I really did love the news today about the new 52 week low in Gold stocks as that tells me it's time to start scooping up some value!
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