Expect gold to trade sideways-to-down today, then probably perk back up on Wednesday and Thursday. After all, gold bulls have been buying every dip for the last month, why would bargain hunting stop now?
Smart traders will set alerts to their cell phones and take as much time off as possible this week. Earnings season comes soon enough in January, and January earnings season is well known for high volumes, high expectations, and unexpected news. This year, with the longest bull market in history possibly ending, could see the return of short selling as a regular strategy rather than as an exception.
Everyone at The Gold Enthusiast wishes you and your family a Happy Holiday Week! Celebrate all the holidays — why miss out on any fun?
The Gold Enthusiast
DISCLAIMER: No specific securities were mentioned in this article. The author doesn’t expect to make any trades in the gold sector in the next 48 hours, seeing as how the US markets will be closed for most of them. The author admits that he likes to celebrate holidays from around the world because people and cultures are fascinating.
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About the Author: Mike Hammer
For 30-plus years, Mike Hammer has been an ardent follower, and often-times trader, of gold and silver. With his own money, he began trading in ‘86 and has seen the market at its highest highs and lowest lows, which includes the Black Monday Crash in ‘87, the Crash of ‘08, and the Flash Crash of 2010. Throughout all of this, he’s been on the great side of winning, and sometimes, the hard side of losing. For the past eight years, he’s mentored others about the fine art of trading stocks and ETFs at the Adam Mesh Trading Group More...