So, in gold, you're up for the week so far: 1.82 percent. You can see you're ahead $61 for the week. I mean, this is phenomenal. The all-time high close in the gold, basis this weekly chart, is $3444, so you're $30 away. That's not bad at all. The market, though, is one of these markets, that is trying to put in trading bottoms, and let's take a look. You see it happening right here. You have the pattern of higher lows, higher highs.
This market, in all fairness, is going sideways ever since June. So, it's got the power to do it. But would I tell you to buy over a Bollinger Band? I can tell you that I tell my subscribers: never. You wait for the markets to pull back in, and in addition, you're in overbought territory.
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.