SPDR Gold Shares (NASDAQ: GLD) — This exchange-traded fund (ETF) seeks to mirror the price of gold bullion.
As early as April 9, 2009, I targeted GLD at over $125. I have been consistent in identifying the gold trend, and earlier this early this year I spoke to the possibility of $125 being low, saying: “The target of $125 could turn out to be low, but this is a topic that is regularly covered here, and I’ll advise if there are changes.”
On June 9, I said, “We will now revise that target to $130 with the possibility of even higher prices later this year. In such trying times investors usually flock to gold and now may be the final opportunity to buy it before a quick run to our target.”
It is time to reiterate our target of $130.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.
Double Your Money as the Market Plunges and Then Soars
The Dow is headed for 9,000 — you can either get run over OR go along for a profitable ride. Download your FREE options trading guide for details on how to make a ton of money on the short side of the market. Get your free copy here, including two trades you can make right now.
