In the gold market, any way you want to cut it, this market's been on a tear. It's up here pushing, as you can see, on a closing basis: $2378, not the highest high but a closing basis high. Yes, you can see, I said that we're in a distribution pattern and let's just look at it before any indicators are on there and that's what you've done. When you look at the swing line you certainly have the pattern of higher lows.
I've got them marked with the arrows but it's hard to deny, that you got the lower highs okay, so which way does it want to bust out of here? That's the big question. Certainly. If you clear these highs right here, that I'm pointing at the market taking off potentially to the upside. That doesn't change the momentum. If the market breaks down, could it break enough to get to the 18-day average? Well, that's a big break. You're talking $60 to $70 an ounce. It would take some event to make that happen and when I take a look at the Bollinger Band, well you were running it. You began running it at the beginning of April and yet you just ran forever with this, if you think about actually began in March...
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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.