We're going to take a look first at the gold market, and I always like when you look up here and I'II start there because that gives you the time that I'm doing this and everything else in the markets. Obviously, you can see on a weekly basis. If we were to close right here, it's an all-time high on a closing basis. When you look at what the market did, it's another week, it's another set of new highs. So gold is broken out of all this; made a run.
Even if it were to break hard, I don't think there's monstrous decay on the downside because nobody's buying into the fact yet that shelter costs and others are falling; we still have the inflation scenario. You got to keep looking over your shoulder. Yes, it'll fall but not gallop to the downside and if the dollar weakens a lot and these other fed cuts come in, then gold gets that part of it going forward, plus world events.
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.