I had to exit gold in my slow moving money this morning for a small loss. Will look to re-enter in the price range bands as previously mentioned:
It was really hard to let the previous metal go this morning but trader Erik sent me a link to a ZeroHedge article that gives a compelling argument for the recent weakness in gold: China Golden Week Holiday. I highly encourage you to read the article here.
I would rather be on the sidelines and in a money market or cash (which ever your 401K offers), while I wait for the Chinese to come back from their holiday on October 9, 2019. I’d like to see a candle over candle reversal around 1440 level on gold to take another long entry. It’s usually a much better psychological position to be in, to be stalking and hunting for an entry, instead of holding on to a declining stock and hoping it reverses.