Thursday, December 16, 2010

12/16 10:00

Covered crude short 88.10.  It should have traded down more with the stock market.


  1. Good morning, Steve.

    Your gold short is making money! Congrats.

    Do you have an eventual price and/or time target where you believe gold might bottom? I believe gold and other PM's are in a very long term bull market (for the next several years) and would like to use this pullback as a buying opportunity for gold, silver, and miners.


  2. Steve, what is the significance of the 370 EMA? How did you arrived to depend on it?

  3. I just use this M/A to filter out QE trend. If trend breaks then traders will dump, at least until the next I1 bottom. In different market environments I'll rely on different M/As. It has only broken once in the past 6 months.