New Target for GLD

By
A A A

SPDR Gold Shares (NYSE: GLD ) - This exchange-traded fund (ETF) seeks to mirror the price of gold bullion.

I have been recommending GLD for more than a year. Our latest Trade of the Day recommendation on Sept. 16 said, "An intermediate correction in July only temporarily interrupted the rising price of gold, and this week, GLD broke from a triple-top to a new high. The immediate target is still $130, but with new buying from central banks, the price could jump to $140."

With the recent breakaway gap, the possibility of a "currency war," and a rush to precious metals, our target is raised to $150-plus.


Since GLD is technically overextended, protect new positions with smaller initial positions and close trailing stop-loss orders to protect against violent corrections.

Trade of the Day - GLD Chart

Trade of the Day Chart Key

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Stocks

Referenced Stocks: ETF , GLD

Sam Collins

Sam Collins

More from Sam Collins:

Related Videos

Stocks

Referenced

73%

Most Active by Volume

74,163,031
  • $15.94 ▲ 0.57%
51,224,162
  • $110.37 ▼ 1.75%
49,360,636
  • $11.94 ▲ 10.66%
49,261,938
  • $24.53 ▲ 0.37%
41,028,567
  • $103.39 ▼ 0.49%
39,877,647
  • $10.13 ▲ 2.32%
37,126,896
  • $29.08 ▲ 1.68%
34,908,940
  • $7.30 ▲ 3.84%
As of 9/3/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com