SOLD AKS $20.22
BUY CIT $2.19
BUY DYN $2.56
BUY BNK.TO $4.54
SHORT USD/CAD $1.0805
I like the gold trade now until the end of the year. I think we will see gold higher by year end. How much? I'm not sure, depends on the weakness of the US$ but I think we can retest the multi-year highs from early 2008. Gold broke out of a long term pennant last month and is holding these levels right now so the reward/risk tradeoff is high right now should gold continue south.
Oil is holding solid here as well. If you take a look at the chart for OIL, it has retraced to the 38.2% fib level with the runup from the lows of Feb to the highs of June. The 200 day MA is also providing support right below.
My picks from yesterday all performed well today and will continue to hold here:
PAET (+7%), PQ (+3.5%), RODM (+3%), SRI (+3%)
BUY CIT $2.19
BUY DYN $2.56
BUY BNK.TO $4.54
SHORT USD/CAD $1.0805
I like the gold trade now until the end of the year. I think we will see gold higher by year end. How much? I'm not sure, depends on the weakness of the US$ but I think we can retest the multi-year highs from early 2008. Gold broke out of a long term pennant last month and is holding these levels right now so the reward/risk tradeoff is high right now should gold continue south.
Oil is holding solid here as well. If you take a look at the chart for OIL, it has retraced to the 38.2% fib level with the runup from the lows of Feb to the highs of June. The 200 day MA is also providing support right below.
My picks from yesterday all performed well today and will continue to hold here:
PAET (+7%), PQ (+3.5%), RODM (+3%), SRI (+3%)
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