In the gold, we're down 1.16 percent. I've got to tell you, when I did my gold report— I think it was three weeks ago or so— we're getting the break now that was delayed because China changed things. And they came out with their packages, then the golden week came when they didn't have to say a word, as you know. Now we're into the third week, and the game changed on it.
We're now getting the pullback in the gold, and you see that especially on the daily bar chart. So everything's been delayed as I look at it, lower highs, lower lows. The market's now under the 18-day moving average of closes. The next moving average for support is $2494, so I always ask where's the Bollinger Band bottom and that's $2591; about $50 away. That's the more attainable number if the market wants to drop, then this number in my opinion. But I wouldn't be surprised to see a battleground at the $2652 level.
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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.
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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.