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Lejun James Shao is the founder of www.myIRAs.net (http://www.myIRAs.net/), WhitePine Investment Inc of USA, and CEO of WhitePine Software Inc, Beijing, China. He was the top finisher in MSN's 1st US One Million Dollar Investment Contest, "Strategy Open Tournament," with a +45.88%... More
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  • GLD - It Is Buy-Time Again

    Again, one chart is better than a thousand of words.

    GLD - it has touched its bottom of its down trend channel and bounced back from its 117.01 low today.

    The rebound should continue in the next few days.

    Notice: the rebound should stop at around 120 - 121 level. GLD will have another drop and the down trend will be over.

    See its 60-min chart below

    Feb 12 6:47 PM | Link | 5 Comments
  • GLD - Reached The Short Term Bottom

    After one week of waiting, gold price finally crushed last Friday and reached our short term down target of 118.00.

    See the GLD 60 min chart below:

    Please be noted that GLD did have a short term bounce last Wednesday and Thursday and then crushed after strong US jobs data announced Friday morning.

    GLD price closed at 118.49, bounced back from exactly 118.00.

    We believe that 118.00 will be served as a short term bottom. We may see it re-visit Friday's low and then started its up move.

    The real bottom may be in 115 - 117 level. The exact bottom will be given when my short term indicators give the signal.

    Feb 07 6:42 PM | Link | 2 Comments
  • GLD - What Is Next?

    GLD gapped down and no meaningful rebound today as I expected. See its 60-min chart below:

    My View:

    GLD is short term oversold and is ready to go back up tomorrow. Even the chart looks like that GLD may eventually touch 118 or even below, but this will not happen in one day. It takes few steps.

    Switch gear tomorrow and you will make more money.

    Tags: GLD, gold, gold miners
    Feb 04 12:15 AM | Link | 1 Comment
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StockTalks

  • long on SCO and RUSS and will put stop-loss on SCO at 60.00. RUSS at 11.30. I am betting that oil price will drop Tuesday or Wednesday.
    Feb 16, 2015
  • $GLD topped on 1/22 and is now moving down slowly.
    Feb 5, 2015
  • $RUSS and $RUSL are good pair for short term trading.
    Feb 5, 2015
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