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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

Buyer of Gold Here? #poll

RaginCajun Tue May 15, 2012 1:19pm EST 11 Comments

Are you getting your JakeGint on and buying this dip in Gold? Click here to vote in this week’s poll.

Here’s a look at the daily chart, I say it’s worth a shot with a tight stop in place:

 

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11 comments

  1. razorsedge
    razorsedge
    May 15, 2012 at 1:23 pm

    . 1500 stop?

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  2. mhass33
    mhass33
    May 15, 2012 at 1:25 pm

    buy but only for a brief bounce, that line will crack soon

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  3. MetalLeg
    MetalLeg
    May 15, 2012 at 1:42 pm

    It really all comes down to what Bennie does. I think the FOMC minutes tomorrow will send the market and commodities higher (Gold, Silver, and EUR COTs are very favorable) so they are lining up for a move and I’m guessing tomorrow’s FOMC minutes will get the party started.

    If and when Greece departs the EUR, EUR will move higher as will PMs.

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  4. DMG
    DMG
    May 15, 2012 at 1:52 pm

    I think i remember JakeGint; he used to be a blogger here, no?

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    • Honolulu Trader
      Honolulu Trader
      May 15, 2012 at 2:02 pm

      When gold was going up,Jake always around.Gold been dumping & Jake goes MIA. Vacation? That’s convenient!

      Bring back Jake!

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  5. The Eye-Talian Stallion
    The Eye-Talian Stallion
    May 15, 2012 at 3:30 pm

    Nice shot anyway- try this trade again later, much later.

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  6. Bozo on a bus
    Bozo on a bus
    May 15, 2012 at 3:31 pm

    My bottom picking hasn’t worked very well recently. That said, I’ve already got all the gold I want; I’ve been buying puts.

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