IAU Trade - Still Open

The IAU trade contibuted most of August's performance. The coloured band along the bottom of the chart is a graphical view showing whether the market is bullish (green) or bearish (red). Note the surge in volume which occurred before and after good news about their gold reserves. IAU is yet to make a profit.

August Performance

Thought I would update the performance figures, now that I have a few open trades. However, July and August performance was driven by a couple of gold stocks (IAU & LYC). The market is at a key inflection point at the moment. Hopefully we have a break above resistance levels and move higher into Xmas. For me, it is quite postive that indexes have pushed higher the first half of September with so much talk of bearish sentiment, head shoulder bearish patterns, European economic woes, double dips and anything else people can dream up. Another positive is the large number of buy signals my systems have generated over the last few weeks. There is a chance though that I could get chewed up and spat out by the bears who are still lurking - we are a long way off a bull market yet. I think I will just keep tagging along .......