Gold...we have options.
Gold, at first glance is seems like it flipped trend and went super bull mode these last three weeks...however Gold is definitely in a major downtrend and at this point has not broken free from it. In truth, it is creating a perfect reaction to trend given the previous reactions in Time & Price. Sure, it was a great buy in the 1120's/1130's but we're now at the other end of the spectrum and my preference is shorting at these points in time and price until trend is shown to be changed. Seasonality can be deceptive in this scenario as markets can also run in opposition to the general seasonal curve. For this I point to this last year...every standard, well MOST, standard seasonal trades have been wrong. What everyone has been so "sure" about because of previous occurrences have left their accounts hurting this year. So, until Gold can over come the downtrend guidelines, I will remain very bearish on Gold. If Gold can make higher highs after January 19th I will be fully bullish on Gold and will look for the pullback to buy and hold.
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