Sean Hannon

Gold Loses Its Shine

Please keep in mind that this is a technical trade - not a long term stance on the future price of gold. I have a tight stop loss so any rally in gold will have a minimal effect on my portfolio while a sell-off we bring nice rewards (see the final paragraph). To paraphrase - "There is only one side to the market. It is not the bull side or the bear side, but the right side." With gold off 3% this morning, I am on the right side. By using tight stops and prudent risk management, I can keep it that way.