As my last publication on Barrick Gold Corp mentioned, GOLD has some very nice fundamental metrics. Especially compared to its competitors in the industry with similar market caps, GOLD stands out as a leader .
I have taken quite a bit of profit this past week to protect gains, as well as closed out some losers. I did have some hedges which helped but I was operating mostly un-hedged on a long bias and my yearly profits went from a 20% gain to 10% gain but I think we needed a good correction. Personally, after securing my profits, besides some beta hedging, I am holding back on most longs until we see a change in market structure. A series of higher highs and higher lows on market indexes is what I would like to see to start shopping for longs.
However , I like GOLD as a company and I also like the relationship to bond prices that GOLD as a commodity has. So, I have decided to try a second long after being stopped out before . I think the risk vs reward is good here and it can act as somewhat of a hedge against rising bond yields. I have tightened up the stop from the previous trade too to reduce risk and outlined two profit targets on the chart .
Good luck ~
I have taken quite a bit of profit this past week to protect gains, as well as closed out some losers. I did have some hedges which helped but I was operating mostly un-hedged on a long bias and my yearly profits went from a 20% gain to 10% gain but I think we needed a good correction. Personally, after securing my profits, besides some beta hedging, I am holding back on most longs until we see a change in market structure. A series of higher highs and higher lows on market indexes is what I would like to see to start shopping for longs.
However , I like GOLD as a company and I also like the relationship to bond prices that GOLD as a commodity has. So, I have decided to try a second long after being stopped out before . I think the risk vs reward is good here and it can act as somewhat of a hedge against rising bond yields. I have tightened up the stop from the previous trade too to reduce risk and outlined two profit targets on the chart .
Good luck ~
艾力克~