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  1. #1
    Administrator Martin Kay's Avatar

    New Tips by Richard - Gold, S&P500l. Weekly Expiry 10-17/12/2012 !!!

    Hi guys, last week turned out to a good week for Richard, here are some more tips from him.

    Originally posted by R.Cox. For the full trading breifing click here.


    My Trading Recommendations in 50 words

    1. Stronger employment data in the US could combine with positive trends in holiday spending to support prices in the S&P 500 through next week (and the end of the month). I will be looking to enter into weekly CALLS on a drift back into 1405 for the index, targeting a rise of at least $20.


    2. Last week’s Dollar strength disproportionately affected Gold prices and if we can get some more momentum selling into $1680, I will enter into weekly CALLS, as we could easily see a rally back above $1740 before then end of the year.


  2. #2
    Senior Member Grae's Avatar
    I am looking at these two actually -with great interest. S&P is a call for me. Im also waiting for a bullish rally on gold targeted at 1735-1740 before years end. Lets see.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Martin Kay View Post
    Hi guys, last week turned out to a good week for Richard, here are some more tips from him.
    The S&P is very definately going up (at least it looks that way to me....there really is no definate in trading) but I think a drift back below 1405 may be wishful thinking. The index has good support between 1400-1410 and is already moving up from last weeks close. I also agree that there is going to be at least a 20 point movement which is why I am ok getting in below 1420.

    As for gold, I think any entry below $1700 would be good, especially for options with end of month closings. The FOMC is expected to reveal some form of QE tomorrow and this will help weaken the dollar against gold and help drive this trade.

  4. #4
    Master Member vinayakm's Avatar
    Quote Originally Posted by Michael Hodges View Post
    The S&P is very definately going up (at least it looks that way to me....there really is no definate in trading) but I think a drift back below 1405 may be wishful thinking. The index has good support between 1400-1410 and is already moving up from last weeks close. I also agree that there is going to be at least a 20 point movement which is why I am ok getting in below 1420.

    As for gold, I think any entry below $1700 would be good, especially for options with end of month closings. The FOMC is expected to reveal some form of QE tomorrow and this will help weaken the dollar against gold and help drive this trade.
    Gold should go up in price for obvious reasons this holiday season and not to mention we have the Indian wedding season which will have a big effect. However, the positive economic data does not bode well for those of us who love to hoard gold me included.
    Richard should have a good week this time too!

  5. #5
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    S&P went down a little but held well above support levels. I am also with u guys in support of CALL.

    Gold:-
    Whenever there is a new monetary policy, there is inflation due to cash printing and Gold benefits from it. But QE4 is merely a revision of QE3 and looks like it may not have Bullish imapct on gold.

  6. #6
    Senior Member Grae's Avatar
    Click image for larger version. 

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    Is the Gold resuming previous trend? Either way, 1 day is bullish.

  7. #7
    Master Member vinayakm's Avatar

    Yup! Gold is up and so is the S&P500 !!!

    Quote Originally Posted by Grae View Post
    Click image for larger version. 

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    Is the Gold resuming previous trend? Either way, 1 day is bullish.
    I will be trading these picks quite fervently. They make a lot of sense for me for the reasons listed by Richard. I was bullish at the start of the month and continue to be so after looking at the positive data that shows both the indices and the gold price climbing.

  8. #8
    Legendry Member Michael Hodges's Avatar
    Yup, the S&P is definately holding above support.

  9. #9
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Grae View Post
    Click image for larger version. 

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    Is the Gold resuming previous trend? Either way, 1 day is bullish.
    Yesterday gold gained good height in first half of the day but then lost in 2nd half. Net change was around -0.53%.
    Today Gold looks to be in strong bearish mood.

  10. #10
    Senior Member Grae's Avatar
    True bear, based on yesterdays pin. Watch for the 1683 supports first for any bullish trends.

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