Gold Rallies While Dollar Collapses Says Market Timer Frank Kollar
October 19, 2007 (FinancialWire) (By Frank Kollar)
Gold bullion and gold stocks rallied on Thursday, while the U.S. Dollar took a precipitous dive and broke to new lows against the Euro.
Gold futures are now at $768.60 and quickly approaching highs not seen since the gold rally some 28 years ago. Meanwhile the U.S. Dollar is collapsing and has broken several support levels over the past month, with Thursday’s lows breaking below what many traders thought would be the end of the declines, reached back on September 28 th.
Trend traders, who jumped aboard near the beginning of both of these trends, will ride them as far as they can go. While no rally lasts forever and no decline is bottomless, trends tend to go further than anyone expects them too. We will ride both as far as they will take us.
How far is that? The simple answer is, no one knows. Let profitable positions run and cut losses fast.
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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