We're expecting space to be tight for this week's upcoming gold webinar. Have you reserved your seat yet? If not, we're extending a last minute invitation to all of our lurkers out there.
Save your seat by registering today and find out what MarketClub co-founder and former floor trader Adam Hewison will be sharing about this ever-popular precious metal. Adam will show you how this market can be traded, what the pros and cons are, and how you can analyze all the ways to trade it with MarketClub's "Trade Triangles."
We promise that you won't be disappointed so register today!
The MarketClub Team
WENT 100% Short at high noon bought more DZZ and ZSL---I bet the ranch! TONTO NEVER WRONG ELVIS-------will be buying a whole isle of oldies @ K-MART THANK YOU VERY MUCH, ELVIS
Why don't you archive for your members to view at thier liesure
I was not registered for the seminar, since I knew I wouldn't be available. I'd still like to see it tho.
I guess gold closes at 1403.30
Adam, you mentioned the 52 week high on close rule in this. Does it have to end at a 52 week high on the very last trade, or can it just be there sometime during the day for this rule to work out. If close enough, how close is that?
Doug,
You want to see a market closing as close to the highs on a Friday as possible. If a market makes a new 52 week high on a Friday and then closes lower for the day then that would not be a good candidate for the 52 week rule.
52 WEEK RULES
Here are the three rules you need to trade "The 52-week new highs on Friday rule"
These are the exact rules that Bill used to make millions
Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.
Rule number 2: Exit the long position on the opening the following Tuesday.
Rule number 3: If the market opens sharply lower on Monday, exit the position immediately.
There you have it. These are the only three rules you need to trade with "The 52-week new highs on a Friday rule" successfully.
"The 52-week new highs on a Friday rule" works extremely well in futures and in the Forex markets. This rule can be reversed for "The 52-week new lows on a Friday rule" if you are so inclined to trade the short side of the market. The same rules apply.
All the best,
Adam
Good job people! Hard to get enough across in 45 minutes of course, but a good job squeezing it in at the level of detail you can get in that time. Yes, it was your best ever (open mic, when you thought otherwise)!
Lucky I have a windows emulator for doing things like this (which I normally don't let onto the internet, I use it for programming microchips, mostly). I never let my trading account touch any of those less secure operating systems, FWIW.
Re silver, I saw something interesting on another site the other day, where it'd been plotted against gold on the same chart (you need to add that feature for comparing stocks!). Seems silver shoots up when people are as all-in on gold as they want to be, then they look for something else similar. It shoots up brutally (lagging) but then back down just as brutally (leading) when compared to gold. Informative. I am too timid and too ignorant to trade options here, but I use them as leading indicators -- even Cramer admitted to using them to move markets when a hedge fund manager. There's a site out there that is worth looking at from time to time on that.
http://www.optionpain.com/MaxPain/Max-Pain.php
Which is showing flat (not real useful) on GLD right now, but it's often a good hint on other equities. Looks like gold is being massively over-hedged at all price levels now, I'm not smart enough to know just what that means, but it should mean a lot of interest no matter what - and a very liquid market with a lot of players.
Had you drawn the lower trend line (from dip to dip) you'd have predicted that a breakout (direction unknown) would have occurred right when it did on GLD. A wedge formation like that can show a lot -- or at least when to be nervous -- when the lines intersect, something big (nearly) always happens.
A good point on the trade triangles you partly made -- during that time the weeklies had you "out" during the summer, you could have had that money in something that WAS going up, which is is the point of being a trader -- be in what's doing the best now, insofar as you can make that work with other considerations (being diversified and so on). Those few weeks would have been plenty of time to make a trade on something else that was moving in he direction you'd want it to (whether long or short), then back into gold. You're underselling the value of this system!
I am a member and tried to watch it live, but was not able to gain access.
Here is today's Bloomberg headline,
"Gold Imports by China Soar Almost Fivefold as Inflation Spurs Investment"
I hope you will repeat this webinar at other times more convenient. I will be working.
Peter,
Thank you for your feedback.
We do intend to rebroadcast this webinar at some later date. If you are registered, you will receive an e-mail from us with the link.
All the best,
Adam
Dear Susan: i wrote Adam last week that he need to bring a warm due the typical weather . As a a past resident he will survive. My daughter came here from Kally- fornacate and brought with her. a snow windy snow day. the temps have an i regret for inform Adam i have upgrade his need. According to my assessment he must also pack a Chicago type hat with stings hanging down from the ear flaps.. I am putting the snot alert index up 2 notches, to cold and possible code #3 snot alert. Thats really cold. He will understand, a code #3 snot alert. It is is serious cold and requires the ear-flap Hats gloves and a scarf to put over his nose, tied in the back for protection of his nose as it is windy here too. Chicagoians are not offended if your stings are hanging down or you greet them with a scarf tied in the back across your face. It Chicago in December. Tell him elvis cant come, as i have to go to K-mart, to the record department tomorrow. fora Christmas record. regards, ELVIS "thank you very much"