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Gold Tops Out… For Now, Not for Long

Gold has topped out, for now. The mining stocks and gold look poised for corrections, but the long term outlook remains bullish. Among our trading picks, GFI was stopped out last week wth a gain of 36% in 29 days. We should also take our profit on AU, which had gained 54% in 41 days as of Friday’s close. I have raised trailing stops on the remaining 5 picks to protect the gains in those. We can look to enter new trades depending on how the correction plays out.

This report covers the short to long term technical outlook for gold, and for gold mining stocks, along with recommended trading strategy.

Liquidity moves markets!

Follow the money. Find the profits! 

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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