** Trades for 02/10/2009 **
Hi Folks, today was an excellent day to trade and I hope you made money. I didn't make money for I bought AUY ( GOLD STOCK ) on a pullback expecting it to shoot higher and it did then it came back down. Gold stocks were up nicely during the day consolidated then broke down. The Spot price EOD contract of gold bounced perfect off the middle range and im hoping we head higher tomorrow which I think we will. The gold contract has resistance at 920 and then if it breaks 920 it should be on its way to 1000 with some minor resistance at 950. Thats the level im looking for. Im looking to focus on one group tommorow to get a better guage and handle on my trading. So im focusing on semiconductors using the SMH: USD to go long, or SSG to go short. Im looking at a buy signal on SSG at 67.75 on a pullback, looking at FAZ on a pullback or a break above $52. Looking at going short FLIR on a break of $22. I will be looking to exit my AUY stock if they are up premarket and go long with just calls to free up some capital and move around alittle bit. Happy trading and good luck folks.
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