Thursday, March 11, 2010
Decision Point for Gold - What is the "Smart Money" doing?
GOLD is at a decision point and support held today. Below is an intraday GLD chart ... Do you feel nervous?
QUESTION: What is the smart money doing now?
Keep it simple. Be patient and control your emotions. In a secular bull market, don't become nervous about short term swings. The market is trying to manipulate your emotions, and it does a great job at that. Keep the big picture in mind. As long as the long term (dominant) trend is up, then buy and hold. The nice thing about a secular bull market is that it provides room for error. You may try to pick a bottom and miss. However, as long you trade with the dominant trend, you will be given the opportunity to recover.