It’s all part of the plan
| | | | | | | | | PROSPERITY PUB MARKET TALK
Gold Pops, Then Drops. What’s Going On?
So the Fed announced no change in rates yesterday.
And the market took off like a rocket.
And gold? See for yourself.
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We’ve been hearing so much about gold and its coming surge that we had to wonder what’s going on.
Enter Geof Smith, our favorite commodities expert:
“Gold ran too far too fast. Went from 2152 to 2225 (3.3%) in less than a day.
It is pulling back now. Interestingly though, silver is holding up but pulled back $1 as gold has pulled back.
Nothing goes straight up. So now we see where it settles and finds support and then we will see if it pushes higher again.
It is not unusual to see both gold and silver go up over night and once the US opens, it corrects.”
If you remember, a few weeks ago, Geof told us that for gold to go much higher, silver would need to start playing along.
And play along it has:
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Now, as Geof tells us, we just need some time to see where things settle.
That will give gold the rest it needs before tackling its next leg higher.
— The Prosperity Pub Team
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| 3 Steps To “Snowball” A Portfolio
Nate Tucci recently shared 3 steps to building his dream “snowaball” portfolio.
Along with the exact top 7 tickers he used to do it!
Discover the power of the “snowball” portfolio.
Click to watch the presentation now! | | | | |
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| SCOTT WELSH’S TICKER TALES
Surging: TGT
Remember last July?
Target (TGT) came under fire and the stock tanked.
It was all over for the once-popular chain.
That turned out not to be the case.
TGT has rebounded like crazy and is now surging toward new highs.
In fact, it’s just a few dollars away from a breakout level.
Here’s the chart:
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A break above $175.53 could lead to move back up to pre-Bear Market levels.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45. | | | | |
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PROSPERITY PUB MARKET TALK
Gold Pops, Then Drops. What’s Going On?
So the Fed announced no change in rates yesterday.
And the market took off like a rocket.
And gold? See for yourself.
We’ve been hearing so much about gold and its coming surge that we had to wonder what’s going on.
Enter Geof Smith, our favorite commodities expert:
“Gold ran too far too fast. Went from 2152 to 2225 (3.3%) in less than a day.
It is pulling back now. Interestingly though, silver is holding up but pulled back $1 as gold has pulled back.
Nothing goes straight up. So now we see where it settles and finds support and then we will see if it pushes higher again.
It is not unusual to see both gold and silver go up over night and once the US opens, it corrects.”
If you remember, a few weeks ago, Geof told us that for gold to go much higher, silver would need to start playing along.
And play along it has:
Now, as Geof tells us, we just need some time to see where things settle.
That will give gold the rest it needs before tackling its next leg higher.
— The Prosperity Pub Team
3 Steps To “Snowball” A Portfolio
Nate Tucci recently shared 3 steps to building his dream “snowaball” portfolio.
Along with the exact top 7 tickers he used to do it!
Discover the power of the “snowball” portfolio. Click to watch the presentation now! SCOTT WELSH’S TICKER TALES
Surging: TGT
Remember last July?
Target (TGT) came under fire and the stock tanked.
It was all over for the once-popular chain.
That turned out not to be the case.
TGT has rebounded like crazy and is now surging toward new highs.
In fact, it’s just a few dollars away from a breakout level.
Here’s the chart:
A break above $175.53 could lead to move back up to pre-Bear Market levels.
We’ll keep an eye on it. Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45. |
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