Gold bulls are out in force as I measure the amount of mail received telling me I’m wrong. The bad news is the trend is lower and there are no indications that the pattern will change any time soon. That does not mean that as an investor owning Gold is a bad idea. Here we write about trading ideas that can last days, weeks or months.
Gold, Silver, and Platinum look awful currently. Silver looks the weakest and should 24 while Platinum is in danger of falling below 1,000. Gold holds its own, but is trending lower. Trends last for days weeks or months, but like timing any market is a fool’s game. Probability is our friend; we hit 66% and can make money at that rate.
Looking out years, I am an owner of Gold, Platinum and Silver physical metals. As we watch the current action, there appears to be no better value proposition than Platinum. We own them all but for now Platinum would be our choice.
Continue to watch the miners; they are much weaker than the metals, signaling the selling isn’t over. When trading, be prepared to reverse when wrong holds the key.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
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