Back on Sept 10th, I wrote that I was advising getting long gold, even if a reluctant long. When we popped above $1700.00 an ounce, it triggered a buy. Today we came withing 20 bucks of the target at $1800.00
Take profits on 1/3 of positions. Move stops up on the rest. Sell the next 1/3 at 1799.00. When those sales get filled, then move your trailing stop up on the final 1/3.
That is all I have to say about Gold.
Tomorrow is a USDA stock grain report. I’d sit on my hands for the first half our of trade. Barring that, consider having buys below the market resting along with sales above the market , resting, assuming that if there is a lot of volatility in the first few minutes after AM 730 AM release.
You may get to pick off a spike higher or lower set off by the automatic readers.
That’s about it until tomorrow.
Best
CER
