Posting a little early today, as the algo made us a wad of moola early on in the day. Why risk giving it back?
WTF people, what do you want me to say? BSFG Algo played the gold market today like a conductor with the symphony orchestra. Gains were over $25/oz. What the hell are you waiting for? Download and start taking advantage of one of the few genuine offers on trading you will ever get in your life.
Why trade gold?
It is one of the only markets where greed and fear are the main fundamentals. Ok, you can make a case that gold has an industrial and jewelry use, but it is small and doesn’t account for the rapid ups and downs in the marketplace on a daily basis. It is ingrained in most people to be the ultimate store of value. And that my dear amigos is why we trade it.
Asia continues to trade mucho standard deviations of volatility compared to normal. I’m not complaining, but I wish they would save some of this firepower for late Europe and US sessions. Politicians continue to be clowns in the marketplace, with their every action, sending prices all over the place. If you think Barry Soetero is a moron, his counterparts in Europe and Asia duel daily to see if they can outdo “The One”.
As long as gold maintains daily ranges over $30/oz. we will most likely clean up almost every day. So, let them run their collective mouths: it’s good for business.
As a reminder, we don’t buy high and then sell the break, or vice versa. Patience is a virtue when it comes to gold. Somebody, at every given moment when the market is open, is getting their nuts squeezed. A painful reminder of why prices move as they do.
Have a good day everyone,