5 Technical Setups From the Twittersphere
SPDR Gold Trust
Last up is the SPDR Gold Trust (GLD), one of the most accessible ways for stock investors to get exposure to gold prices. GLD has been a popular name in large part because of the success gold has seen over the last few years. This fund has rallied nearly 160% since the start of 2007, a period over which the S&P 500 has moved 16% in the other direction.
For reasons I've talked about before, gold has been under considerable pressure in the last few months. But there are reason to believe that it could headed back up -- from a technical standpoint, gold could be offering traders a second change to buy right now.
That's because gold prices are throwing back to their previous breakout level, right around $165. If this fund can catch a bid around this newfound support level, we've got a buy signal on our hands. Don't be a buyer until that bounce off of support happens.GLD is the top holding in John Paulson's portfolio. To see these plays in action, check out the Technical Setups for the Week portfolio at Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts