Gold Trading Alert #2

Briefly: There are no changes in the outlook / positions.

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All replies to the question that I asked in today’s main Gold Trading Alert supported quick messages in order to better handle the timing, so I thought that it would be a pleasant surprise to post one also today.

The key developments of today’s session are:

• Copper’s decisive breakdown below the rising support line that I discussed earlier today (bearish sign). This resulted in a 2.5%+ decline in FCX.

• Silver’s 1% decline despite a move lower in the USD Index and a move higher in gold. It does seem that silver topped.

• Gold is up by over 0.7% but miners are up only slightly – again a bearish confirmation due to miners’ relative weakness.

• Stocks are down despite their early gain and it looks like they are about form a shooting star reversal candlestick. This could be IT for stocks.

• Platinum is up for the day, but it erased most of its intraday rally, also creating (much clearer) shooting star reversal candlestick. This might be a good opportunity to short platinum if one was considering it. Seems scary? And that’s why it’s probably a major opportunity. It’s too close to the closing bell for me to add it to our trading positions, though.

So, there you have it – what we saw today fully supported what I’ve been writing in the previous days.

Enjoy the rest of the day – and good night for those in the non-American time zones.

Thank you.

Sincerely,

Przemysław K. Radomski, CFA

P.S. Based on the question from one of you – my subscribers (thank you, Austin) – I decided to re-write the portfolio report with details about position sizes, so that the risk-control mechanisms are clear and simple. I will most likely create an online calculator for you to use as well, but I don’t want to put the exact publication date for this.