June Gold Inching into sell zone

Fridays high was 1484.  I’d be a scale in seller at 1500 or,  consider buying 1400 puts for a minimum loss.  3 or 4: 1 payoff.

In the grains, weather worries sparked short covering rally. I wrote about buying calls last Thursday.
This, in my opinion is a rally to sell.   IN CZ13  scale in sells between 5.67 and 5.75.  Have buy stops above at 5.87.
That’s about all for today.
Good trading
CER

Sell june gold between 1470 and 1505. This is rally to sell in my opinion

Sell june gold between 1470 and 1505.  This is rally to sell in my opinion.
On March 21st june gold printed 1619  April 16th we printed 1321.   1/2 way back???? 1470   That’s my first sell.  
If we for some reason pop above that,  and its possible:  I’d be a seller at 1505 with both hands and both feet.
For all you Monday morning quarterbacks out there, if you doubt me,  then fade me.  We’ll see who has a profit in their account come May 30th.

That’s all for now.

That is all

4/19/13 week ending Grain comment

Corn: May corn settled up 7 ½ cents at $6.52. December settled up 5 ¾ cents at $5.47. For the week however, May lost 6 ½ cents and December lost 3 cents. Generally a quiet news day for the grains aside from continued talk of cold, wet weather delaying planting. Some stories of farmers in the Delta throwing in the towel on planting corn were supportive. Funds bought 4K contracts today. Focus remains on the weather. Here in Chicago we went from flooded streets to snow flurries as Mother Nature can’t seem to make up her mind. Planting progress will be released on Monday. The […]

Gold down another 100 bucks an ounce, and its only 8:30 AM 1385 was the 5AM low

June gold fell to 1385..  1367 is my down side support, but that could be run through like a Sherman tank going through Pizza Dough.   If you try to pick the bottom, god be with you, and make sure you have sell stops to protect yourself.  Ditto on Silver… Down 2.63 at 23.70 April silver has dropped from 32 bucks an ounce to today’s low at 23…. That’s going to leave a mark.

Corn, Wheat, Beans,  all taking it on the chin.  new crop beans down 10,  Wheat down 18 , New crop corn, after completing its 50% retracement has fallen from 5.50 to 5.35

Risk […]

Gold breaks to 1500… Where are the gold bugs now?

1) gold’s low today is a 38% retracement of the rally which started back in 2008 when gold was at 800 bucks an ounce.  Next support in Gold is 1367 and then 1237. 

The report came out friendly old crop corn and we got a good bounce in CK up to 666.  Fortunately, we only paid 200 bucks for each put, and with 14 days left of life for those options.
They still may pay off.  A lot can happen over the next 2 weeks.  I’m actually buying some more cheap puts, because I think this is a head fake rally.

Interestingly,  The rally […]