Open: ABX BRCS Mar 35/37.5

GOld has run up to $1000/ounce which is a double top and resistance.  The miners/gold producers are rolling over and while long term I believe gold will bestrong and the miners should follow, right now things are pullling back.  The MACD and STO are rolling over and it’s broken the 50MA down which means it’s going lower.

The trade is Credit .62 on 1.88 risk.  Not as good a risk reward as I would like but I’m keeping my position smaller than normal.

This entry was posted on Thursday, February 26th, 2009 at 4:33 am and is filed under Trades. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to Open: ABX BRCS Mar 35/37.5

  1. edgewiseonthemarkets says:
    February 26, 2009 at 5:41 am

    Do you trade any gold futures?

  2. Sean says:
    February 26, 2009 at 2:27 pm

    Nope. I don’t trade the futures at all.