Tuesday, July 03, 2018
What Is Wrong With Gold?
The price of gold via GLD has been falling since April. After hitting a peak of $129.47, the price closed yesterday at $117.46.
There have been two up and two downs moves of magnitude in the last year. Currently, we are in the latest down move. Additionally, there have been many smaller moves.
Yesterday the price of GLD closed within $0.06 of its December low at $117.40. Effectively this means we have had a 100% retracement of the December low to April high.
Once the Heikin Ashi candlesticks turn green, then we will know it is time to buy especially if the U.S. Dollar can begin to fall as well.
WYNN RESORTS LTD (WYNN)
by Superstock Investor
Casinos Stocks Free Fall
Concerns about slowing growth in Macau casinos is hitting the price of both Las Vegas Sands (LVS) and Wynn Resorts (WYNN). Las Vegas Sands has fallen from $80 to $70 in recent days. Meanwhile Wynn Resorts has fallen from $200 to $150.
The growth rate came in at 12.5% as opposed to estimates of 18%. A proposed move to allow gambling on a nearby island is a potential culprit on the drop in growth along with tightened rules on cash withdrawals.
©2021 Gold and Energy Options Trader, LLC. All rights reserved.