Correction in Gold – How Much Longer?

The Contrary Investing Report

Investing and Trading News, with a Contrarian, Sarcastic Twist!

It’s a fool’s game to try and pick the exact moment of the turnaround. I prefer to stay on the sidelines right now until the gold correction is through. If you believe it is still a bull market in gold, there will be plenty of money to be made on the next upswing. If gold […]

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In case you missed it, the Aussie $ got trashed during Monday’s dollar rally and carry trade unwinding. It was off about 4% on the day – ouch! I personally had to scale back some other positions in order to stay liquid through it. Was something I’ve been meaning to do anyway – needed to […]

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The long term outlook for gold looks quite promising. First, from Agora Financial’s 5 Min. Forecast: Open interest in NYMEX’s (COMEX) gold futures contracts breached an all-time high of 500,000 this week. Never have so many traders been betting for — or against — gold than right now. So… you might ask… where’s the smart […]

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Forgot to update over the weekend – quite a week last week! Most of the gains were thanks to the currency rallies. I picked up an Aussie $ contract this morning so that I can track it – don’t plan to add to it unless it drops. Date Position Qty Month/Yr Contract Strike Call/Put Entry […]

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On Friday I sold all of my Euro and Aussie $ positions. Both ended the week in a flurry, with the Euro topping 1.44 and the Aussie $ topping 0.92. This rally was thrilling, but ultimately made me too nervous to stay in the positions. Everyone today is bearish on the dollar – and when […]

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About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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