Monday, December 18, 2006

Gold Makes It to Wallstrip

If you've never watched Wallstrip, you should get over there right now and subscribe... entertaining, educational, funny... Howard, Lindsay et al are doing a great job. I've never mentioned it here because, well, it's mainly about stocks, and this is a commodities blog. So it was really cool to see todays episode all about the yellow metal:



It's reminded me that I've been remiss in mentioning gold, apart from the odd quip here and there. Why? I suppose from a trend trading standpoint I am a bit underwhelmed with the pattern at the moment. I don't see anything that would have me plonking on the futures with a trend trade and I don't like the IV setup at the moment for any short gamma option trades.

It doesn't mean I've ignored it, Oh no, it still has useful little swings for taking short term trades, so yes have been jousting away at it. I note Howard has got in at a good spot though and Bill Rempel also has a well thought out article on his blog today and faces off the bulls.

Long term... hey, I don't know I'm just a trader. Both sides have strong arguments and I follow along pretending to understand all the concepts, but as a private trader I'm primarily a hitch-hiker, I'm just draw my lines and try to catch a ride whichever way it's going. At the moment I have no idea which way, so it will be tilting at windmills for me for the moment.

1 comment:

Howard Lindzon said...

Thanks my man. Glad you enjoyed. I think water is the story of 2007 - that and maybe another health panic