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The bottom will be in place soon enough. When the metals eventually turn higher, be ready to buy on strength.
Gold
1) The position bought at $1700.00 on December 12, 2011 was sold later the same day at $1678.00, which was its stop-out point. Loss: $22.00
2) Buy one position at the market. Gold is presently $1,664.00 as I write, so I will use this price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1648.00. (updated 13 December 2011)
3) Buy one position if the Comex spot price trades at $1680.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold subsequently trades at $1664.00. (updated 13 December 2011)
4) Buy one position if the Comex spot price trades at $1715.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold subsequently trades at $1692.00. (updated 13 December 2011)
5) Buy one position on the first Comex close in New York above $1725.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $25.00 below your purchase price. (updated 13 December 2011)
6) Buy one position on the first Comex close in New York above $1740.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $35.00 below your purchase price. (updated 13 December 2011)
Silver
1) The position bought at $31.48 on December 12, 2011 was sold later the same day at $31.18, which was its stop-out point. Loss: 30¢
2) Buy one position at the market. Silver is presently $31.275 as I write, so I will use this price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $31.12. (updated 13 December 2011)
3) Buy one position if the Comex spot price trades at $31.50. Stop-out point: sell at an intraday stop-out point if Comex spot silver subsequently trades at $31.30. (updated 13 December 2011)
4) Buy one position if the Comex spot price trades at $31.80. Stop-out point: sell at an intraday stop-out point if Comex spot silver subsequently trades at $31.40. (updated 13 December 2011)
5) Buy one position on the first Comex close in New York above $31.80. Stop-out point: sell at an intraday stop-out point if Comex spot silver subsequently trades at more than 55¢ below your purchase price. (updated 13 December 2011)
6) Buy one position on the first Comex close in New York above $32.25. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 13 December 2011)
7) Buy one position on the first Comex close in New York above $32.80. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at more than 55¢ below your purchase price. (updated 13 December 2011) View all Trading Comments >>
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