The IAU trade went well yesterday with an exit at the opening auction when it was bid up to $1.85. IAU then fell back during the day and closed at $1.76, re-entry was made at $1.78.
Entered ALK during the morning which now sees me holding several gold stocks.
Yesterday saw some upwards movement in OGC and ROL.
ADU has been a disappointing trade with an entry at 68 cents and 65 cents being its current price.
Consideration will be given during the day to reducing exposure to the market with the DOW being almost neutral overnight and gold reaching out towards the target I projected on this wave. Its possible this wave might extend however the DOW looks like it may may pull back too and gold might follow the DOW down.Options expiration tomorrow in the US which could see the market drop. Gold seems to change it relationships all the time, it never marries and just teases a host of partners. I feel though that if the DOW drops gold may follow it hand in hand, hence my nervousness.
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