The fear driven environment sparked a massive rally in Gold prices. One that we had discussed quite a bit in the old 1998 analogue.
Here’s a look at how that analogue played out again.
Take a look at the weekly chart on $GLD.
The massive gap up followed by today’s gap lower left last week traders on an island of price above.
I’m now a watcher of weakness in $GLD.
OA
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Exactly what I was looking at right now. I read one or two many bullish articles on gold last week.
Early on my DUST, scaled in with a cost basis around 8.50.
Bot 1/8 position TZA at 65.24. Had completely exited the position over 70. Still own 10x as much TNA
what’s your take on oil here?
Bought April puts on GLD this morning.
I agree. Long gold trade blows up soon.
Yeah, I think it retraces a lot of this move, but I’d be a buyer in a month or so.
Noted. I think it retraces…in a month or so. A falling yen will keep the fear burner on HI. Long gold…even though I don’t like it.
I’m long dust at 6.40 bought every day last week