I am not heavy trading in last few weeks. I did only few trades with mixed results. Volume is too thin to trade.

I like idea of short gold trade. I plan to use Gold Ultra short ETF  for this trade again. Now I need to see gold futures to make pullback up to 845 - 850 area. There I want to enter this trade. I expect new declines in gold.

There are not only reasons based on technical  analysis but also some fundamentals are backing this my opinion. I am bearish on commodities in near future a lot.

This entry was posted on Thursday, August 28th, 2008 at 10:22 am and is filed under ETF analysis, ETF trade setup, Stock chart analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.