This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

5 Stock Trades for S&P 1,700

SPDR Gold Trust

If there's any name that's got as much attention negative as Apple in the last month, it's the SPDR Gold Trust ( GLD), an ETF that provides exposure to physical gold. In short, GLD is the most investible proxy for everyone's favorite precious metal.

Gold hasn't exactly been booming this year, and yesterday's greater than 2% decline didn't exactly help matters. But we're approaching a make-or-break level for GLD right now. Here's how to trade it.

>>4 GARP Growers to Buy This Summer

At this point, GLD looks like it could either form a double-bottom -- a bullish reversal pattern -- or break down even further this summer. The key is how the metal reacts to support at the $132.50 level. If GLD can't catch a bid at $132.50, then traders have a signal to pile onto their short positions. On the other hand, if GLD bounces on $132.50 and then pushes through $142.50, then gold becomes buyable. I wouldn't go long gold a moment before that.

Yes, the either/or scenario in gold right now means that you've got to be reactionary to trade it. But the best traders are the ones who react to the market, rather than attempt to predict it. Leave predictions to the fortunetellers, and trade the breakout (or breakdown) in GLD.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $128.46 0.00%
AMZN $380.16 0.00%
BAC $15.81 0.00%
BMY $60.92 0.00%
GLD $116.16 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs