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05/22/2014 – Gold

  • May 22, 2014
  • Gold

Issued: 05/16/2014

June gold:

1. June gold continues to decline after completing the previous $1307 upside profit target (recent swing high, $1309.20).

2. Any further decline to and daily close above $1282 into Monday, May 19 (+/-1 day) will prompt new long entry for a tradable multi-day (or longer) advance.

3. Should June gold be unable to test $1282 as noted above, any hourly or especially daily close above $1298 by Monday, May 19 (+/-1 day) will prompt new long entry in June gold for a further test/attempt at $1309 or higher. Keep this in mind. Will update as market confirms.

David Williams

Issued: 05/21/2014

June gold:

1. Today’s June gold declined into the $1282 buying territory noted in our Friday, May 16 update (today’s session low, $1282.90).

2. June gold reversed off $1282 and closed the session at $1292, which is the stronger position as noted in the report.

3. Initial long position exit should be taken at/near $1296 (this is a smaller than usual profit target due to the recent compressed range). Higher profit targets will be messaged in a subsequent update. Significantly higher prices remain possible.

4. Aggressive self-directed traders long from at/near $1282 should exit a portion of their position at current prices ($1292.50).

5. Initial protective sell stop should be placed at $1281. This stop will be moved higher as the market continues to confirm.

David Williams

Issued: 05/22/2014

June gold:

1. We remain long June gold from the Wednesday May 21 daily close at $1292 (or lower), noted in previous updates.

2. Initial long position exits were taken at/near the $1296 upside target noted in the previous update (today’s session high, $1304.10, so far.

3. Further long position exit should be taken at/near $1307, if reached. Final long position exit will be messaged in a subsequent update.

4. Our protective sell stop has been raised to $1288. This stop will continued to be moved higher as the market confirms. Will update.

David Williams

Issued: 05/23/2014

June gold:

1. Today’s June gold declined and triggered our recently adjusted $1288 protective sell stop. This resulted in an approximate breakeven on the entire trade (long from $1292, initial exit at $1296, stop at $1288).

2. Longer-term we remain bullish on gold. Will message any further entry or indication as the market confirms.

David Williams

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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