Wednesday, March 23, 2016 9:23 AM EST
As fear has made a swift exit from the market, the flight-to-safety trade has likewise disappeared. Look no further than gold for evidence of this, as gold gets monkey-spanked this morning:
I’m delighted to see gold weak, because I’d like to get long at the right price. To my way of thinking, the “right price” is perhaps about $114.50 on GLD, which is the confluence point between the breakout price (green line) and the now-broken channel gold had been trapped in for years (red line, which is the upper trendline of the aforementioned channel). So……I wait.
Disclosure:Short Workday This blog is not, and has never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make ...
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Disclosure:Short Workday This blog is not, and has never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural observations or other odds and ends strike me as worth writing about. So I take absolutely no responsibility for the losses – or any credit for the gains – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
Please note I am the principal of Tim Knight Organization, LLC, a California-registered investment adviser. The content of the postings and investment strategies and discussions provided herein do not necessarily reflect the views, opinions or policies of Tim Knight Organization, LLC and Tim Knight Organization, LLC makes no warranties regarding the accuracy of their content or their completeness.
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This should eventually offer a better entry for those who expect a new PM bull market in 2016-17.