Why Gold Sold Off And Its Major Threat Going Forward
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During the past couple months the price of gold has rallied strongly and broke to a new multi-month high. The recen strength and the possibility of a bottom has attracted a lot of bottom feeders who are trying to get involved early in hopes that a major breakout and rally happens in this shiny sector.
Subscribers and I did catch a small 10% pop in Silver and got out with a gain but our GDXJ (junior gold miner) trade was stopped out a couple days after price started to fall. I had a relatively tight stop in the gold miners trade because I understand the characteristics of price when a commodity or any investment for that matter is trying to carve out a bottom. Price fluctuations can be big and wild and I don’t want to ride that beast any longer than need be. Probing for an early market bottom should only be done with a small percent of your overall portfolio if at all.
Today I talk about why I think gold has fallen and what you need to understand about this threat, which could trigger a much larger meltdown in precious metals – Be Aware!
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Courtesy of ETF Trading Newsletter
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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic
Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better.
His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility.
He is a regular speaker on HoweStreet.com, and the FinancialSurvivorNetwork radio shows. Chris was also featured on the cover of AmalgaTrader Magazine, and contributes articles to several financial hubs like MoneyShow.com.
