Gold Gets a Pop

Gold Gets a Pop

12:30pm (EST)

We mentioned this morning the race to 1,600 was on and with today’s $14 jump to $1,592, Gold is closer to ringing the bell first than the S&P 500 is.

The recent trading sessions have been sluggish in the morning with strength coming in the afternoon and the indexes closing near their highs.

We aren’t sure if today’s action will turn out the same way because the drift lower feels like it could stick but we are expecting a higher week for the market.

Although we are close to adding new trades, we wanted to see how this morning’s open played out before taking new positions. We also have 4 trades in the mix that will be closed by Friday – win, lose, or draw so we are also waiting for these trades to clear the books.

We will have 10 open positions in play afterwards with April and June expiration dates. The April optIons have 38 days before expiration while the June options have 101 days before they expire.

The Dow is off 10 points to 14,437 while the S&P 500 is lower by 4 points to 1,551. The Nasdaq is down 17 points to 3,235.

Subscribers, check the Members Area for the current trade updates and if we see an opportunity to add a new trade this afternoon, we will send out a Trade Alert.

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