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The precious metals got one more test of support on Monday and Tuesday. Today’s big jump indicates that it is once again time to build up our long positions.
Gold
1) The position bought at $1515.00 on the Comex spot close in New York on June 13, 2011 was sold on June 23, 2011 at $1531.50, which was its stop-out point. Profit: $16.50
2) The two positions bought at $1538.60 on the Comex spot close in New York on June 17, 2011 were sold on June 23, 2011 at $1536.50, which was their stop-out point. Loss: $4.20
3) The position bought at $1552.90 on the Comex spot close in New York on June 22, 2011 was sold on June 23, 2011 at $1536.90, which was its stop-out point. Loss: $16.00
4) Buy one position at the market, which is presently $1510.70 as I write. So I will use that price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1492.50. (updated 30 June 2011)
5) Buy one position on the first Comex spot close in New York over $1,526.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $16 below your purchase price. (updated 30 June 2011)
6) Buy one position on the first Comex spot close in New York over $1,538.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $16 below your purchase price. (updated 30 June 2011)
Silver
1) The position bought at $36.35 on June 21, 2011 was sold on June 23, 2011 at $35.80, which was its stop-out point. Loss: 55¢
2) The position bought at $36.00 on June 21, 2011 was sold on June 23, 2011 at $35.60, which was its stop-out point. Loss: 40¢
3) Buy one position at the market, which is presently $34.82 as I write. So I will use that price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $34.48. (updated 30 June 2011)
4) Buy one position if Comex spot silver trades at $34.60. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 30¢ below your purchase price. (updated 30 June 2011)
4) Buy one position on an intraday stop if Comex spot silver trades at $35.05. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 30 June 2011)
5) Buy one position on the first Comex spot price close in New York above $35.40. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 30 June 2011)
6) Buy one position on the first Comex spot price close in New York above $36.40. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 30 June 2011)
Gold/Silver Ratio
1) On June 27 traders unwound at 44.6 their short trade of the ratio (i.e., they were long silver and short an equal dollar value of gold) from 43.6 on June 13, 2011. Loss: 2.2%
2) Sell the ratio (i.e., buy silver and sell an equal dollar value of gold) on the June 30th Comex close. Stop-out point: unwind this trade on the first Comex close in the ratio in New York above 44.8. (updated 30 June 2011) View all Trading Comments >>
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