Could You Have Done This $1300 Trade in Gold Futures?

Night owls should check out Rick’s Picks trading ‘touts’ after the regular-session close, since trading opportunities have been especially juicy at night compared to the lean pickings on days like yesterday, when the broad averages and most stocks screwed the pooch for six hours. One such trade offered Monday night, a bullish play in December Gold futures, would have produced an easy profit of up to $1300 if you’d followed my explicit instructions. Here they are, exactly as written: “The futures would trip a minor buy signal at 1158.90. The relevant pattern is shown in the chart, and although I can feel in my bones that an entry at that price will get you at least to the midpoint pivot at 1171.00, I’d strongly suggest nailing down a partial profit there so that you can still be holding a small long position without much risk.”  In the actual event, once the futures hit 1158.90 they continued up to 1172.50 before dropping back by $12.

One more note for Wednesday:  There are two developing opportunities we’ve been monitoring for a while — in DIA and JNK (a, ETF proxy for junk bonds) — that are nearly ripe for picking. If you don’t subscribe and would like the tradable details, you can sample Rick’s Picks free for two weeks by clicking here.  This will give you access to all features and services, including daily ‘touts’, a 24/7 chat room that draws experienced traders from around the world, and to frequent ‘impromptu’ sessions online where we look at tradable ideas in real time. Fifty people attended yesterday’s session, and you can ask them yourself in the chat room whether they had a good time.