Friday, November 22, 2013

Dollar's 30 Year Slide May Be Gold's New Life: 2014 Outlook

While many are scratching their heads, I continue to stack and position myself with leap options.  These temporary noise situations are nothing more than diversions.  While we know that the "bull" will always shake the weak investor off his back, those that are not on margin, will be able to withstand whatever the market will provide.  Reserve some cash in case of further take downs and even place good til cancel(GTC) orders on leap options below the market.

Many traders and investors are still scratching their heads at the peculiar gold trading Wednesday which pushed gold below the important technical level of $1,250/oz. Support at $1,250/oz has been breached and gold is vulnerable of a fall to test support at $1,200/oz and the June 28th low of $1,180/oz (see charts below).

Dollar's 30 Year Slide May Be Gold's New Life: 2014 Outlook

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