So far for the week, the gold market is down 3.2%. If the market were totally fall out of bed, it could go back to the $2141 level. That's not what I'm expecting. I can see where the market had its distribution, you know the war event that you had back here and then the pullback ever since that and that's where the market's – if you will – punishing those that bought too high in here and taking these people temporarily properly out of their positions is the in-out trader drops away.
The battleground (I'm thinking it doesn't mean I'll be right) it's going to show up at the 18-day average of closes. The Bollinger Band's the other one that could be $2270 but I lean more towards the market trying to fight a battle right there. That doesn't mean it's a buy or a sale. This market has stepped out of its trend at this point in time and you can see in the momentum how the market is working its way down and all the tip-offs came back here when you lost the bullish embedded, reading it happened before this whole break took be place and it just stayed overboard, it never re-embed it.
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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.
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