Pre-market trading plan summary

Gold jumped above $1,220 yesterday night and came back down a little bit this morning. I expect gold to rise this week, and GLD to hit about $118 at one point.

My probabilistic model for GDX shows about %80-%20 of going up. GLD however is more promising with a 90%-10% of going up.

Miners (GDX, GDXJ) should follow gold, but their upside potential is limited in my opinion. I’m looking for 3-4% return trades, not 10%.

I will probably enter NUGT this morning at around $16.00 for a day trade. Like I said, I will be quick to put a take profit order if I reach 3% profit. You can follow my moves on the “Past performance” page.

As usual, I will set a stop loss at -3%, which means I will exit the position if NUGT hits about $15.50.

I know there’s some news about gold from India. I will probably analyze that later today.

Will you be trading gold today?