TRADING TIPS

A Question About Gold

Hubert Senters here. Question from a viewer what I think about Gold. So Gold, GLD, the bright shiny stuff. It’s bipolar right now. It’s crazy. It’s very hard to trade. It’s like your crazy ex-girlfriend, crazy ex-wife or if you’re a female your crazy ex-boyfriend or your crazy ex-husband. That’s what Gold is like right now. So for me, I’m just staying away from it until it makes it up. Now, it sounds weird because I usually like volatility and stuff like but this volatility is through the roof on this stuff. It’s easier to trade bonds or index futures then there’s to trade the Gold right now. Gold is really weird right now, I’m staying away from it. It fired off a two day buy signal. It acts like it wants to go to $1700. It does have over head resistance around $1700 right up here in that area and you can see it right there. That’s what it looks like. You’ve got a little it of support down here in this area around $1600 so right now you could probably play a ping-pong trade back from it. Long at $1600 sell it at short $1700 cover it back at $1600. Just be careful with Gold. It’s a little bipolar right now. Now, if you want to learn how to read some market direction better with the NYSE tick indicator Mark Helweg is going to be doing a special webinar tomorrow, Friday, April 3rd at noon EST.  I’m going to HYPERLINK you to that registration page. Good luck. Hope it helps. See you on the next video. Hubert.

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