37 thoughts on “2 Minute Video On What Happened To Gold Today”

  1. Adam,
    There have been various "schools of thought" with regards to gold stocks and whether or not to "bail" or "keep long". I have a couple of December Call Options that expire on 12/18, so I'm quite nervous at this time as I had made a decision to remain "long". The original anticipated gold upsurge for December doesn't look like it's going to happen, but I'm pretty much a novice and it would be great if you could review things again and create an updated video on gold stocks coming this Monday, 12/14. Also, please open the below report on the US$ -- it appears to add "fuel to the fire", although there may be more than one way to look at it?

    http://seekingalpha.com/article/177809-u-s-dollar-index-breaks-downtrend?source=email

    Thank you for your help! Daphne

  2. Today (Wed 12-09-09), gold closed with a rally that may signal the end of its shortfall that began last Friday (12-04-09). The news that Dubai was delinquent on its real estate loans held by European banks coincided with gold's downturn Friday. As of Wednesday (12-09-09), the news is becoming old and Abu Dhabai has since promised to back those delinquencies. Consequently, sentiment against the Euro is perhaps rising and therefore the dollar may return to its decline before the news became headlines. If so, gold should rise in the next fews days and into the near future. Is this reasoning correct for the downfall and possible turnaround?
    Ron

    1. Ron,

      I appreciate your feedback.

      To be honest with you I try not to over think the market. I think this is a real problem for a lot of traders as they look at all different combination's and linkages which may or not be working at the time.

      Here's my philosophy; if the market's going up, I want to be long. If markets going down, I want to be short. That's it in a nutshell.

      All the best,
      Adam

  3. Hi Adam,

    Where do you think gold will find support and start to rise up again? Do you expect it to go higher into year's end? If you do, to what price level? Are the charts telling you anything about this?

    Thanks Adam.

    1. Westerngal,

      Both the short and intermediate trends in gold are now down. Only the long-term monthly trade triangle is positive at this time.

      As we started into December I posted a blog saying December can be a tricky one and that's exactly what is happening right now. As many traders are winding down for the year, I would expect that the markets will become thinner, that means less volume and more volatile.

      I hope this helps.
      Adam

      1. Adam,

        Appreciate the update.

        Does that also mean you are taking off your gold target showing a high around 12-25 to early January? I know the technicals in your 9-24 video, and revisited again on 12-2 indicated the 12-25 to early January as the new high for gold.

        Will you be developing some new parameters for tracking the market? It would seem if the daily/weekly trade triangles have been taken out, the long term monthly will not be far behind.

        Is the 9-24 presentation back in play, with 950-980 support and trade triangles showing again? We have also seen buy points of 1024 and 1030 back to 10-7 and again on 10-27, where we could have been looking at pullbacks to the 1027 which at that time was 50% retrace.

        Would be interested in your thoughts in more detail, and comparing your previous observations to what has changed other than trade triangle (daily/weekly), it is the longer term triangles which concern me the most. Are you still bullish longer term?

        Thanks again for your input.

        Dennis

        1. Dennis,

          Thank you for your feedback.

          Both the weekly and daily Trade Triangles have turned negative on gold. Our long-term monthly triangle remains positive as of this writing.

          So here we are in a month of December which has traditionally been a difficult month for traders. December tends to be a choppy and volatile month. As you may remember we were looking for gold to trade up to the $1200-$1300 level and certainly that would seem to have happened in early December. The cycle that we were looking for to crest around December 25 may have crested early. I suspect this to be the case.

          I think for the moment the best course of action is to probably watch from the sidelines until after the holidays.

          All the best,
          Adam

  4. In your video on gold you spoke of a possible retracement of the downturn on Friday. While I agree that, I would like to add that gold has had one hell of a run going back to November 2001. I have made a considerable amount of money trading the gold miners since November 2001. They paid for my 2007 Ford Ranger. It was a nice feeling to pay cash for a brand new vehicle. That said, I trade the gold market with extreme caution now. When everybody knows about something then everybody should know that the profit potential is probably somewhat limited.

  5. Hi Adam would you please take a look at my chart on Gold and this what I see. Looking forward for your comments. Thank you

  6. Adam thank you so much for all your updates it is really educational and very helpful, would be kind to check what I see on Gold, check the link below. Thank you

  7. For those that would even think about getting out of gold or silver at this point, you obviously don`t see the big picture.

  10. Recently, you presented, for Apple, the technical trading with the monthly and weekly triangles for buy and sell signals. I wonder why you dont proceed the same way with gold. Why, in this case, are you using cycles instead?

    1. Rolande,

      Thank you for your comment.

      There are several aspects in play here. The first on is if you are a system trader then you follow the system. The system could be MarketClub’s very successful Trade Triangle approach or another technical system.

      The next is if you are trading from the charts. At MarketClub we provide both a system i.e. Trade Triangles and several other technical studies traders can use along with real time prices for spot gold.

      Here are the rules for trading with our Trade Triangles.

      On spot gold we use the weekly for trend and the daily for timing. On all stocks including ETFs we use monthly for trend and weekly for timing.

      The video you watched was a response to quite a few member that wanted to know what was going on intra-day in the gold market. What I showed them was the existence on a short term cycle that I believe help contribute to Fridays dramatic drop.

      So there you have it. If you are a system trader I have given you the rules you need to be successful using MarketClub’s Trade Triangle technology.

      If you are a chart trader I have given you some insights into the intra-day goings on in the gold market.

      I hope this helps you.

      All the best,
      Adam

  11. Steven,

    Thank you for your comment.

    There are several aspects in play here. The first on is if you are a system trader then you follow the system. The system could be MarketClub's very successful Trade Triangle approach or another technical system.

    The next is if you are trading from the charts. At MarketClub we provide both a system i.e. Trade Triangles and several other technical studies traders can use along with real time prices for spot gold.

    Here are the rules for trading with our Trade Triangles.

    On spot gold we use the weekly for trend and the daily for timing. On all stocks including ETFs we use monthly for trend and weekly for timing.

    The video you watched was a response to quite a few member that wanted to know what was going on intra-day in the gold market. What I showed them was the existence on a short term cycle that I believe help contribute to Fridays dramatic drop.

    So there you have it. If you are a system trader I have given you the rules you need to be successful using MarketClub's Trade Triangle technology.

    If you are a chart trader I have given you some insights into the intra-day goings on in the gold market.

    I hope this helps you.

    All the best,
    Adam

  12. Adam,

    Nice post, but isn't it a little contradictory to your 11/27/2009 Trade Triangle exit signal on spot gold? I am not being intentionaly skeptical, but I am trying to understand your system. I want to buy the years membership, but this has me a bit confused! On the 11/27 warning all I recieved was an "exit signal on spot gold this morning at 1,161.94! That was a bit ominous for me in that I had just purchased some shares in GDXJ and have been aware of how that ETF seems to track the ups and downs of gold! I held. The Market jumped up over the next two days making it appear your exit trade in gold was all wrong! Gold peaked at 1227.50 on 12/2. I am thinking that I am glad I did not listen to you! Then on the 3rd things began to unravel all the way down to 1147.40. Needless to sayI lost quite a bit on my gold stocks. Then I was thinking I should have listened to you! Of course if I had I would be out too early! ALSI I am at where I would have been if I exited at the price point you recommended! Anyway, my point is what gives with this post that hints we are in a lull and could be poised to boot up higher since a lower entry price is now available! Do your trade triangles delay in their predictions and do they once proven true change tha quickly?

    I like your site and analysis and am trying to clear the confusion up. Thats all! I am not Trying to catch you or persuade any one to think ill of you. I just want to know how I should think about these, at least to me, contradictory posts! Help!

    Sincerely

  13. Adam.......your most "avid" student here.

    Thank you for your answer (as always); but, it failed to answer my direct questions.

    What constitutes a DOWNTREND?

    What makes a Downtrend, a Downtrend?

    How do we recognize a downtrend when it’s coming? and

    How far does a move have to be from the top, or from the bottom, to BE a downtrend?

    You see, I've been reading on chart formations; and the chart formation language used during the chart formation is: "UPTREND" and "DOWNTREND" as you know, all of the chart formations relate to this language. Therefore my questions above. I'm just trying to recognize a Downtrend/Uptrend when I see one.

    Thanks Adam.

    Regards,

    Hugo.

    1. Hugo.

      It depends on what time frame you are looking at. Downtrends can appear in all time frames. The easiest way to spot them is if the market looks like it is pointed down then that could be a downtrend. You can also use several technical studies sucjh as moving averages, MACD and parabolic indicators. All of them can help define a downtrend.

      All the best,
      Adam

  15. Chasing into nose bleed areas is for fools. Yah we might have an up day for gold on Monday because they tend to be bullish but this is not a low risk opportunity. Take the opportunity to sell your gold and wait for the MACD to turn bullish again.

    BTW Anybody remember what happened to QQQQ. Chasers got crushed because of greed. If you want to chase you better watch the US$ closely because it hasn't lost its correlation yet. Look at Friday.

  17. A superub presentation. what exactly you expect in the monday please convey that and the precations to be taken for maonday trade well before the market hours so that we can analyse your trend and market movements

    Raja

    1. Bidalur,

      Thanks for your feedback.

      I expect a much less volatile day. As I mentioned in the video we are close to a cyclic low period based on some very short=term cycles.

      Overall the main trend remains in a positive mode.

      Thanks.
      Adam

  18. Excellent calls Adam. Thank you. Your earlier video on the rhythm of gold prices was right on. Although no one could have predicted the break in unemployment stats on Friday, we could have expected a correction in gold prices in this time frame, based on your observations. Once again, great call and thanks.

  19. Adam, I think gold will pull back just a little more before heading north into January. I think the new high will be $1300+.Let me know your thoughts.

  20. Whatever, if u own physical gold, and if u r following a system...any system, u can keep holding the stuff without fear...these paper gold plays are the ones which take the life away from the speculator.

    1. U are correct, and this works for your stratgies,and portfolio. I like both sides the physical piece and the paper trade. This is why I like Adam's technical pieces, and try to join his views with the fundamentals as best as possible. All systems will win some and lose some, respect the markets, and know they will humble all of us at some point. I will say joining Adam's technical video's with the other pieces of the market, seem to be working.

      Adam, loved u'r piece yesterday, and appreciated u'r techs.

  23. Thanks so very much for the Friday Gold up date it was a very timley report,it`s imformation that gives me a course of action.

    Reguard, Lynn

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