|
Both precious metals had a good week, but silver did not do as well as I expected. So we are seeing some re-testing of support in both metals. We need to assume that support will again hold, and as a consequence, gold and silver will end the week higher.
Gold
1) 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 subsequently trades at $1587.50. (9 January 2011)
2) Long one position from $1,602.00 bought on January 3, 2012. Stop-out point: sell at an intraday stop-out point if Comex spot gold subsequently trades at $1596.00. (9 January 2011)
3) Long one position from $1,616.00 bought on January 5, 2012. Stop-out point: sell at an intraday stop-out point if Comex spot gold subsequently trades at $1602.00. (9 January 2011)
4) Buy one position on the first Comex close in New York above $1618.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $25.00 below your purchase price. (9 January 2011)
5) Buy one position on the first Comex close in New York above $1632.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $25.00 below your purchase price. (9 January 2011)
Silver
1) The position bought at $29.38 on January 6, 2012 was sold later the same day at $29.22, which was its stop-out point. Loss: 16¢
2) The position bought at $29.10 on January 6, 2012 was sold later the same day at $28.88, which was its stop-out point. Loss: 22¢
3) Buy one position at the market. Silver is presently $28.80 as I write, so I will use this price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $28.48. (updated 9 January 2012)
4) Buy one position if the Comex spot price trades at $28.60. Stop-out point: sell at an intraday stop-out point if Comex spot silver subsequently trades at $28.375. (updated 9 January 2012)
5) Buy one position if the Comex spot price trades at $29.10. Stop-out point: sell at an intraday stop-out point if Comex spot silver subsequently trades at $28.92. (updated 9 January 2012)
6) Buy one position on the first Comex close in New York above $28.90. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 9 January 2012)
6) Buy one position on the first Comex close in New York above $29.24. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 9 January 2012)
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 56.4 (Friday’s close was “at” but not “above” this level). (updated 9 January 2012) View all Trading Comments >>
|
