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I’ve been travelling which explains the absence of posts the past couple of weeks. I assume you have been following my interviews on King World News, Korelin Economics Report and many other sites so that you can keep up-to-date with my thinking. You may also find my interview with The AU Report to be useful. But there should be no surprises in any case because I have not changed my bullish long-term view on gold and silver.
January was a great month, with gold up 11.0% and silver up 19.2%. February looks like it too will be a great month, and has the same potential as January to generate significant appreciation.
Gold
1) The position bought at $1,639.20 on the Comex close in New York on January 11, 2012 was sold on January 13, 2012 at $1641.50, which was its stop-out point. Profit: $2.30
2) The position bought at $1,616.00 on January 5, 2012 was sold on January 13, 2012 at $1632.00, which was its stop-out point. Profit: $16.00
3) The position bought at $1,602.00 on January 3, 2012 was sold on January 13, 2012 at $1628.00, which was its stop-out point. Profit: $26.00
4) Long one position from $1,586.00 bought on January 3, 2012. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1648.00.
5) Long one position from $1,655.20 bought on the Comex NY close on January 17, 2012. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1696.00.
6) Buy one position if the Comex spot price trades at $1,728.00 or on the first Comex close in New York above $1,764.00, whichever comes first. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $25.00 below your purchase price.
Silver
1) The position bought at $30.07 on January 12, 2012 was sold on January 13, 2012 at $29.84, which was its stop-out point. Loss: 23.0¢
2) The position bought at $28.80 on January 9, 2012 was sold on January 13, 2012 at $29.72, which was its stop-out point. Profit: 92.0¢
3) Long one position bought on the Comex close in New York on January 18, 2012 at $30.514. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $31.48.
4) Buy one position if the Comex spot price trades at $33.25 or on the first Comex close in New York above $34.00, whichever comes first. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than 45¢ below your purchase price.
Gold/Silver Ratio – Traders are short ratio (long silver and short an equal dollar value of gold) from 54.2 on January 3, 2012. Stop-out point: Unwind this trade on the first New York Comex close above 54.4. View all Trading Comments >>
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