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  1. #1
    Administrator Martin Kay's Avatar

    New Tips by Richard - S&P500, Gold - Weekly Calls 12-19/11/2012 !!!

    Hi guys, new trading tips by Richard

    Originally Posted by R. Cox - Click here for the full trading briefing.

    1. Since markets were unable to take any optimistic signals from the completion of the US Presidential election, I am continuing with my downside forecast for the S&P 500. We are unlikely to get much of an upside retracement at this stage, so weekly PUTS anywhere into the 1390 region are acceptable for options traders. First downside target is 1340.

    2. Our bullish bias in Gold continues but with the latest rallies, better to wait for a pullback into the 1720 area before getting into new weekly CALLS. Markets are likely to be looking for new safe havens, and this is a prime candidate (no pun intended).

  2. #2
    M.J is offline
    Veteran Member M.J's Avatar
    Election weeks were harsh for S&P500. I havnt seen this worst performance in previous few months. But now it is calm again. I am also with R.Cox that it will be bearish.

    Gold is up and up and up as expected. It will, most probably, be bullish for current week.

  3. #3
    Senior Member Grae's Avatar
    Very interesting for Gold and Silver too. Bull rush continues. Yes, safe haven vibes are safe bets...

  4. #4
    Legendry Member Michael Hodges's Avatar
    Gold should keep going up and stay up at high prices until global fiscal policy tightens

  5. #5
    Specialist Member RCox's Avatar
    Normally I would not advocate buying into rallies that are as massive as the one that is seen long term for gold. I think trend trading is simplistic and a lot riskier than people actually realize. But in the case of Gold, I think there are short term opportunities that can be capitalized on as long as we are not risking excessive amounts on each trade. At this stage, Gold is only seeing selling pressure during times of wider market stability, and I am not expecting to see much of that into the end of the year. Gold remains a buy on dips.

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