|
The evidence continues to mount that the low point of this correction is probably behind us. But we may have more back-&-filling to re-test support. For now, gold is leading, so the gold/silver ratio may still reach my mid-40s target. When this ratio starts falling again, it will be another signal the correction has ended.
Gold
1) The position bought at $1,523.20 00 on the Comex spot close in New York on May 24th was sold on June 2, 2011 at $1,528.50, which was its stop-out point. Profit: $5.30
2) Long one position from $1,546.50 bought on the Comex spot close in New York on June 6, 2011. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1.538.00. (updated 7 June 2011)
3) Buy one position on the first Comex spot close in New York below $1,524.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $16 below your purchase price. (updated 7 June 2011)
4) Buy one position on the first Comex spot close in New York over $1,558.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $16 below your purchase price. (updated 7 June 2011)
Silver
1) Buy one position if Comex spot silver trades at $35.65. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 7 June 2011)
2) Buy one position on the first Comex spot price close in New York above $36.20. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 7 June 2011)
3) Buy one position on the first Comex spot price close in New York above $38.50. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 7 June 2011)
Gold/Silver Ratio - Sell the ratio (i.e., buy silver and sell an equal dollar value of gold) on the first Comex close of the ratio above 43.8. I’ll set a stop-out price after this position is filled. (updated 7 June 2011) View all Trading Comments >>
|
