StreetTRACKS Gold Headed For Blow-off Top? Asks Market Timer Frank Kollar.
May 2, 2006 (FinancialWire) (By Frank Kollar)
Shares of StreetTRACKS Gold Shares (AMEX: GLD) are in a powerful advance spurred by 25-year high prices in gold bullion and almost as high gold stock prices as measured by the Gold & Silver Index (PHLX: XAU).
But all advances end, and when trading anything gold related, the end is often not pretty. Is there still time to profit by trading StreetTRACKS Gold Shares?
At Fibtimer.com (http://www.fibtimer.com) we track several gold related indicators to make buy and sell decisions and our most important indicator is trend. Currently StreetTRACKS Gold Shares, though extended on the upside, remains in a bullish trend and still has potential. Plus gold stock newsletter editors are not yet overly bullish. Before the gold rally ends we expect to see not only gold advisors, but the public also, to abandon their concerns and jump aboard the gold train.
Until this occurs, gold bullion, gold stocks and certainly StreetTRACKS Gold Shares, have room to go higher. In fact a blow-off top remains a possibility.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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