COTs Timer: Short Gold No More

Wednesday, 11 November 2009

Short Gold No More

I got stopped out of my short gold bullion position this morning. Seeing as how the market moved against historic patterns, this kind of development can sometimes suggest an unusually strong trend. I might look at opportunities to go long with a discretionary trade. Mind you, gold stocks and silver aren't making new highs like bullion is. That kind of divergence is not a good sign for the sector. Hope you're doing well this week.

1 comment:

Unknown said...: I agree, with gold stox and silver not making new highs, this run up feels like the 2005 spike. Open interest for futures and options must surely be above 700,000 and I am sure we are getting close to record territory. Lots of specs and novices getting involved for sure, best not to stand in the way of this train. Doesn't help that drudgereport headlines each day with gold making new records!; 11 November 2009 at 17:58

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I am an active trader and award-winning investigative journalist based in Lac Brome in Quebec's Eastern Townships, just outside Montreal. I have written about investing and business for The Montreal Gazette, Investor's Digest of Canada, Technical Analysis of Stocks & Commodities, Futures & Options Trader, The Financial Post and others. I am not a certified financial advisor and am still refining my COTs Timer system. Please see more disclaimer information below. See my complete profile at the "Intro to COT" link above.

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I created this blog to record my personal, subjective observations about the markets, solely for my entertainment and that of interested readers and to foster research. Nothing on this blog should be construed as financial advice or an offer or recommendation to purchase or sell any security. I encourage anyone interested in the markets to do your own homework and/or consult a professional advisor. I am not a certified financial advisor and am still refining my trading system. I reserve the right to modify or stop publishing aspects of my system at any time or to delay updating my tables for whatever reason, or I may not do so in a timely manner. My system has resulted in very large drawdowns in some trades. Past backtested and real-time results are no guarantee of future performance. I will not be liable for any losses or damages of any kind that result from the content of this site. Although I consider the data, calculations and information on this blog to be reliable, I can't make any guarantees and won't be held liable or responsible for anything erroneous on this website. You are solely responsible for implementing safeguards of your data and system when you use this site and its content and links. It is up to the user of this site and content to protect yourself from worms, trojan horses, viruses and the like. I may hold positions in some of the securities mentioned in this blog.