Time To Take Gold Profits

Wednesday February 22, 2006

Time to take profits on gold and silver. The gliter is off gold for now and traders should take profits.

Take profits on gold now...while there is nobody more bullish on gold for the long term...read that as 5 years. Every bull market gets over bought and needs a correction. And if there ever was a overbought bull market, gold is it, at least for now. Which means that it is time for gold's price to pull back. That price retracment could be quite substantial and last 5 or 6 months.

If you have gold coins sell 25% and take the money to the bank. Same if you have gold stocks, many gold stocks will have substantial price drops as gold declines after this intermediate top. Futures traders....remember, you can't go broke taking profits, and this is the time.

If you have gold stocks...move your stops up to just under today's low, Wednesday, February 22, 2006 lows.... same for futures traders with long positions in gold and silver.

How far can gold go down before the rally resumes? Well the crystal ball I'm using now indicates an area just above the $500 level. However, that does not mean we couldn't trade below $500 before the year is out. By mid-year the picture will change, and that could very well be the time to aggressively get long more gold again....keep tuned, we will let you know.

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There is a risk when gold investing. Futures, Options, Stocks and Commodity trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in Stocks, Futures, Options and Commodity markets. Don't trade with money that you can't afford to lose. This is neither a solicitation for bonds nor an offer to Buy/Sell Bond Futures, Options, Stocks or Commodities. risk disclosure


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by www.makestockmarketprofits.com for gold profits