Has Gold Topped Out for the Year?

Posted on by The INO.com Team

Today, 11/12/09, the gold market took its first corrective action on the downside. The question many traders will have now is, have we hit the high end for gold this year?

In my latest video I examine that question in some of the internals that I see and feel are important in this market.

As always our videos are free to watch and there is no need to register. Please feel free to share your comment regarding the gold market on our blog.

Adam Hewison
President, INO.com
Co-creator, MarketClub

20 thoughts on “Has Gold Topped Out for the Year?”

  2. Adam,

    It appears the comments by Bernanke and the posturing by Obama caused the jump in metals yesterday. Does this change our trade triangles, and the correction we were anticipating from the technicals of last weeks video? Do we need to adjust our planned re entry point to the bullish longer term cycle? As many, I lightened my position looking for a 1085-1095 buy signal. Is it possible the action yesterday was a one or two day emotional move? Your comments would be welcome if trade strategies have changed from 11-12

    Thank you
    Dennis

  3. Hi Adam, really need your insight here

    My question is in your opinion, and of course its only your view knowing that gold is in a long term uptrend would you avg in when Gold does correct short term. OR would you sell sometime in the coming week and take a loss so that to buy back in at a lower price? Or as mentioned avg in to a lower price? I dont need the TAX loss nor do I need the monies asap. My issue is for me to turn a profit on my core HGU holding I will need to buy back in... My Avg is $25, I dont see it getting there any time soon due to GOLD stocks are not moving like the actual gold itself... HBU is a 2x TSX Gold ETF on the commodity.

    Thanks
    Joseph

  4. I took your latest gold video to heart on Friday and lightened my position substantially. To my dismay looks like we're off to the races today. What was aggravating me this morning was that I saw an early weekly red trade triangle that seemed to disappear once the market moved up. I thought the triangles weren't supposed to come down once they were posted.

  5. Can anyone who really knows, check out AMNP,one analyst claims this will explode if gold soars and at the least go up 4 or 5 pts...anyone...

  6. Hi Adam, really need your insight here

    Approx 6-9mths ago I purchased a ETF not knowing the details of it thouroughly, my fault not knowing that it recalculates on a daily basis and this eats away at your base.... HGU is a 2x Bull Gold Equity/stock TSX ETF. My avg price is $25 CDN and its approx $14 now. My question is in your opinion, and of course its only your view knowing that gold is in a long term uptrend would you avg in when Gold does correct short term. OR would you sell sometime in the coming week and take a loss so that to buy back in at a lower price? Or as mentioned avg in to a lower price? I dont need the TAX loss nor do I need the monies asap. My issue is for me to turn a profit on my core HGU holding I will need to buy back in... My Avg is $25, I dont see it getting there any time soon due to GOLD stocks are not moving like the actual gold itself... HBU is a 2x TSX Gold ETF on the commodity.

    Thanks
    Joseph

  8. Hi Adam

    Great simple to follow videos. I note you are long gold but feel major indices will fall. Wh at is your opinion on the gold and silver shares? Will the smaller and mid caps gold and silver shares be less linked to any decline in the indices?

    Cheers

    Andrew

  9. India and China just bot 200 tons of gold each. Don't know if they're dumping dollars, but what would one think? I'm very long slv. Peace, Ed

  10. Hi Adam

    I see you are long term long gold but bearish on the stock market. What is your opinion on gold/silver stocks? Will the fall in the market bring all stocks down. I hold CDE so this is not a large cap. Would the smaller cap stocks follow the trend of gold/silver whereas the major stocks such as NEM follow the market more?

    Cheers

    Murphy

  11. Hello fellow investors,

    I'm an month old subscriber and find the trade triangles suits my style of investing where I'm not in a hurry to enter and exit my trades like in day trading. Moreover, it suits my full time job schedule and family commitments where I get sometime to analyze the markets late in the night.

    So far I have added to my existing positions in GLD, WMT and its going well. My new positions in FXE and USO based on the Market Club Video on Model portfolio didn't go that well and I exited them.

    I'm looking for these information:
    1. How can I find trade triangles that are up in Monthly, Weekly and Daily
    2. How can I find the past videos., I couldn't find the video on "Model Portfolio" where Adam's mentions about USO, FXE, SPY, GLD and one more., Are there any archives.
    3. Is there anyway I can bookmark the discussions and videos.
    4. Can I initiate a new discussion thread.

    Looking forward for a great trading experience.

    Regards
    Manny

  12. There's nothing I love more than a bear markets because there's I love making quick money shorting commodities and stocks.

  14. I think yesterday's negative gold movement and the stock market in general was triggered by the surprise high in the unemployment news. It doesn't take much for people to jump ship. Gold has bounced back today to nearly where it was two days ago.

  15. Thanks for the video Adam.

    As a swing trader today's a good day to be selling. Selling into rallies is the way to go, you make more money that way. If we're still bullish we don't have to sell everything we have, we can sell half and wait for a confirmed sell signal. After that, we can look for the next low risk opportunity.

    This also looks like a good spot to short silver. It's less riskier shorting into rallies too.

    Regards,
    Dan

  16. Gold will glitter again but who knows when?

    Cheers,

    Joe

    As long as the government keeps the printing pressses rolling creating money out of thin air, I believe that gold will remain a growing safe haven.

    Bob

  17. It is interesting to follow the gold hype over the past few weeks then observe the inevitable pullback right in the middle of the Bull hyp. Now the chartists and proponents of gold scramble to assemble their trend lines and trade triangles in support and the reason for the pullback. Gold will glitter again but who knows when?

    Cheers,

    Joe

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