Days like today can be hard to day trade since the market tends to chop around, digesting the slew of economic reports we've been given over the past five days. For those of you that follow Elliot Wave & Fibonacci Sequencing, there are a few cycles coming into play in late November I'll be discussing as we get closer to that date, but for now - there is no reason to be short.
At the time of publication, John Carter was long GLD December 134 calls.
John is a Commodity Trading Advisor with Razor Trading. McGraw Hill commissioned him to write a book entitled Mastering the Trade, which was released in January 2006. Carter has also been featured on ABC Money. He and Hubert Senters founded and run the Trade the Markets web site.
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