55 replies to this topic

[PMILLY]

You've done pretty well with your short. Thanks for keeping us posted. My strategy is to accumulate during this correction. I just don't have the nerve to short gold anymore because I've been burned too many times. Good luck. Pmilly

[rick]

xau pattern recognition still short.
Earliest possible buy is the close on Tuesday.
Rick

[rick]

Well... the XAU did not come thru today. Earliest possible Buy is Thursday's close.
Rick

[rick]

Now the earliest possible buy is Friday's close..
Rick

[rick]

The XAU pattern recognition WILL go LONG or WILL just go to cash (ie. liquidate the short position) on the close on the 26th... more clarification before then. Rick

[rick]

The XAU pattern recognition signal will go to cash... liquidate the short position on the close Monday. Rick

[rick]

The XAU pattern recognition goes back to LONG on the close today, the 27th. Rick recent signals: 11.9 Buy 141.64 12.1 Sell 147.68 12.26 Liquidate 138.45 12.27 Buy ???

[hpm123]

If I may ask..what instrument do you use when you take a position off your XAU signal? Thank you -

[rick]

If I may ask..what instrument do you use when you take a position off your XAU signal? Thank you -

I usually trade XAU options. But one could trade the Profunds precious metals funds, since they have both a bull and a bear fund... you can buy the bull fund with a Buy signal and buy the bear precious metals fund when you have a Sell signal.
You can also use the GDX exchange traded fund, but need a brokerage account that will allow you to sell it short when you get a Sell signal. The performance since 5/31 has matched the XAU performance with these signals.

Rick

[hpm123]

much obliged for the response Rick -