With gold up over $20 today and markets at all time highs could this be a new uptrend?
Rick joins us to chat about the conventional markets hitting new all time highs and the rebound in gold today. He believes that the fall in the markets is absolutely in the cards while his thoughts on gold continue to be deflationary.
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Time to fold up the paper trading tablet.
That about wraps things up. Gold is higher.
R.I.P.
Yes it did, I personally think that the situation with Venezuela played a role. Don’t you?
I am still clueless as to what caused the rally, Birdman. Fortunately, I am just a chartist and therefore able to avoid thinking about it.
Let me clarify. I’m opitmistic short term for gold for the next 2-3 weeks. But pessimistic longer term. Gold has a date with $1000 sometime this year.
For all of you smokers out there!
Well, there’s your Apple beat… what next?
My longstanding target in AAPL has been 143.97. However, judging from the fact that the usual scumbuckets have been unable to short-squeeze the stock above $136 so far (5:40 p.m.) on fabulous earnings news, I’ll be looking for stocks to get slammed tomorrow.
Thanks Rick.
Looking forward to an interesting Tuesday.
FWIW, I put out a bull trade in Gold last night that could have gotten one aboard today’s rally with as little as $40 of entry risk per contract. Mind you, I haven’t been especially bullish on gold lately, but the charts were telling me otherwise, at least short-term. To verify this trade, check the June Gold tout on my home page, http://www.rickackerman.com A point of emphasis in recent months/years has been to bottom-fish near targeted lows in gold without getting hurt if we’re wrong.
Guess I will agree with you Rick. Gold does look pretty good on the hourly chart. That big burst higher this morning came pretty much right out of the blue.