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Global Jitters Send Crude Oil Higher And The Dow Hits 13,000!
By: Market Club   Tuesday, February 21, 2012 1:53 PM
Intermediate term traders should be on the sidelines.
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Suggested SILVER Trading Instruments:
Non Leveraged ETF's: (Long SLV) (Short the ETF SLV)
Leveraged ETF's: (Long AGQ) (Short ZSL)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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GOLD (SPOT)
BIG PICTURE: Emerging Trend  +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) | Emerging Trend (70 to 80) | Strong Trend (85 to 100)

With a Score of +70, the gold market is in the early stages of an emerging trend. The market does have resistance starting at the $1760 level and going all the way up to $1800. We would not be surprised to see gold move sideways to lower and be on the defensive until the middle of May. With our long-term monthly Trade Triangle still in a negative red mode, we cannot get to excited about this market at the moment. We are not super bearish on this metal, we just need further confirmation with the tools we know are successful in trading gold. Long-term term traders should be in short positions in gold with appropriate money management stops. Intermediate term traders should be on the sidelines.
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Suggested GOLD Trading Instruments:
Non Leveraged ETF's: (Long GLD) (Short the ETF GLD)
Leveraged ETF's:(Long UGL) (Short GLL)
Futures & Options: Are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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COPPER (MAY)
BIG PICTURE: Trading Range  -60
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) | Emerging Trend (70 to 80) | Strong Trend (85 to 100)

With a Score of -60, the copper market is recuperating from its recent sell-off and is now in a trading range. We continue to view the longer-term trend in copper as positive. Look for support at the $3.77 level. The market action looks as though it has created a large base to move higher in the future. Long term traders should now be holding long positions in this index with appropriate money management stops.
Suggested Copper Trading Instruments:
Non Leveraged ETF's: (Long JJC)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin.


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