Thursday, May 31, 2007

Few Notes

  • There is probably an ongoing gold &silver options repositioning.
  • Gold / oil ratio should continue to move up (15).
  • Gold / silver ratio, many traders are probably taking this trade , not that wise especially for small or big trades, mid size can do better.
  • XAU, HUI indices seem to confirm the turn.
  • Trading continues to be internally technical.
  • If I read the chart correctly 680 shouldn't be very difficult for start.
  • The downtrend is dead, long live the uptrend.


Anonymous said...

Hi Tony,

At this stage of the long term structure in Gold, it would be unusual to be building this kind of base. Congrats in recognizing the turn if indeed it does break out.
Heard there was a dramatic contraction in open interest recently.

troy said...

Well that low wasn’t a (ii) orthodox low ( just an {A}) but I do see physical buys at current levels.

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