TLT Getting Close to Turn Up. Oil & Gold Holding Well
Posted on February 7th, 2009 in Long Trade |
In my previous post I sold my position in the TBT which is the short for the TLT (see chart below). The TLT looks like it still wants to fall down to 100 where there is good support. This means the TBT could run up to $52 then head down to $43 for a $9 fall. If the volume is light on the TBT at $50-52 I will short this.
Oil related stocks are holding well. I have positions in USO and PBR and HK. Below is a chart for PBR where I entered at $26 on the pullback to support. Its acting nice and should run up to$ 34-35 where I would sell if volume dies.
HK had a similar pattern as it pullback on lighter volume in the green circle and where I bought at $19.50. This should run up to $25.
Gold has had a great run the past 2 weeks and due for a pullback to $80-84 on the GLD. My miner stocks like DGP, RGLD, GBG, AUY, GG have had great runs +30-40%. I have sold most of the positions and will buy back on the pullback.
Sphere: Related Content







One Response
[...] market news by Brian « Gold Stocks Investment: Gold Stocks Investment: Ron Paul [...]