In the gold market, you've come back very nicely on a closing basis. You're not far away from the all-time high, on a weekly close. You've now come up, and I thought you'd have some questions and problems right here where you're at. That's the last high, and then we went into this. Now, if you can close over that, well it certainly then a breakout of that whole pattern. I'd like to see a pullback in the market because I want to get to the pattern with higher highs, higher lows. Gold and silver often rally into year-end.
They follow a track that is very similar to what stock indices do on the Santa Claus rally. Pay attention, and we'll talk about that over time here. The battleground has been won by the bulls - past tense. They were able to hold the market at the 18-day average. And over the past 72 hours not including tonight, the market finally popped out of that and came up; where's it stopping?
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.