Is It Time To Buy Gold?
Trading Places was the hit moviein the 1980s, with a scene in which Winthorp and Valentine were in the frozen-orange-juicepit watching the market going straight up. Valentine, getting nervous, says toWinthorp, “Louie, is it time?” The answer was simple -- not now. They watchedthe rally continue, waiting patiently for their opportunity.
The gold market is becoming verysimilar to that scene in the movie with the exception that gold is going down,not up. However, the action is consistent -- gold goes down every day andeveryone wants to know if it’s time
Again, the answer is the same --not now. Like all markets, there is a right time and place to enter a trade.
Traders and investors must watch the market footprint, waiting patiently forthe right time. Buying gold here would be the same as trying to catch a fallingknife -- dangerous and not very healthy. We will wait for the signal fromLouie.
Contributing tokitco.com
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Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.