Gold - Published Wednesday, April 3, 2013 Last Update: 8:20 AM ET
No Videos today. I lost my voice
to a cold.
Gold dropped nearly $25 on Tuesday, after generating a new sell signal last
On a positive note, we have not taken out recent support @ $1562.50.
This time, it was the bottom of the Fly Paper channel that held us in check.
And not the major moving averages, that have held us in check recently.
Silver also took a tumble.
And with the commodities dropping, so go the stocks. This is not always the case, but it is
Coming into this week, I was still long Goldcorp. That trade has now come to an end, so I am
now going to short Goldcorp.
Another bearish sign for this sector, Barrick has now broken below march low.
So once again, the only place to be in the gold/silve sector, is on the short side.
(Or long the Bear ETF's)
All for now.
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