Trader Dan

Trader Dan Articles

Long time readers of this site are aware that successful traders/investors learn how to read market sentiment. Positioning yourself on the correct side of a market is the key to profits. Do this, and do it consistently, and you will make...
If there was ever any doubt that the majority of buying by the hedge fund category in the gold market over the past 3-4 weeks has been of the nature of short covering, this week’s COT should put that theory to rest.
Stronger than expected US retail sales data undercut some of the recent safe haven trades (buying bonds, the yen and gold) sending all three lower in today’s session. For the first two weeks of August, retails sales are up 1.7% versus a...
Gold has had a nice run off the Chinese yuan devaluation news with short covering the dominant reason behind the buying. Markets that have a decent sized speculative short position are always subject to bouts of sharp price rises as shorts...
In my opinion, the surest method for ascertaining what the sentiment is towards overall global economic growth prospects is the commodity sector performance. When sentiment is upbeat towards global growth, commodities tend to be in a...
There is still no sign of any serious buying occurring in the gold mining sector. The HUI continues to plummet lower and has fallen to levels last seen in October and November of 2002! This is simply astonishing for its ferocity.
Amidst all the talk about “Grexit” ( are the rest of the readers as sick of hearing about this as I am at this point?), one thing being overlooked, especially by those who keep calling for some sort of rip roaring surge higher in gold and...
Another week passes and once again, the word best used to describe the price action in gold is, “YAWN”. As in boring; as in repetitive, as in comatose, as in going nowhere.
The giant gold ETF, GLD, reported yet another drawdown in its holdings this afternoon. This time around it was a 3 tons reduction bringing the total holdings to 715.26 tons. That is now up a mere 6.24 tons since the start of the year...
Gold has managed to avoid a complete chart breakdown thus far, but that is due more to buying in the physical market out of the Far-East rather than any wholesale interest among the high-powered, deep-pocketed, Western-investment crowd.

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In 1933 President Franklin Roosevelt signed Executive Order 6102 which outlawed U.S. citizens from hoarding gold.