The Gold Head Fake
Several Neo Gold Nazzi’s such as Jim Sinclair and other Gloom & Doom so sayers will lead you to believe that every time there is a rally in gold, that “this is the one”. What is the percentage of these metal guru’s have a silent financial stake in bullion companies? Then when the carpet is pulled out from out of the market they scream and blame the “market controllers”. FYI Gold kooks, Nobody cares about these so called precious metals, were in it for the buck and then were going to get out.
Personally I use trailing indicators to indentify when the hedge funds and commodity broker index funds are hearding and drawing the market in one direction. I wait for a slight pullback, and then jump in at the beginning of the next part of the trend and let it ride with my trailing stops. Thats the way I do it, but I’m one of the bad guys, pretty negative too. The funny asians love to reverse their positions and go short in the middle of the night on the night market when all of America is long. I love that.
I don’t care if I’m trading canola oil or treasury futures, or bond futures, this is my trading account, and obviously everyone else feels the same way, except the sheepish followers of these metal jockeys.If you don’t want to do all the work on your own you can use managed futures, as long as the actual trader has a good performance record.
