Gold follows my game plan and rallies

Calling the bottom of a market has been likened to catching a falling knife. But if you follow these trading methods carefully, says John C Burford, you can keep yourself from getting hurt.

I was in Pisa last week, and found the statue of the great Fibonacci, where I paid my respects.

Taking a break from the markets can give me a fresh perspective on my return. Everyone should try it now and then.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Swipe to scroll horizontally
(Contracts of 100 troy ounces)Row 0 - Cell 1 Row 0 - Cell 2 Row 0 - Cell 3 Open interest: 410,399
Commitments
158,712137,96127,133186,385209,161372,230374,25538,16936,144
Changes from 06/25/13 (Change in open interest: 19,752)
-6,1897,2125,27521,4278,99520,51321,482-761-1,730
Percent of open in terest for each category of traders
38.733.66.645.451.090.791.29.38.8
Number of traders in each category (Total traders: 292)
11595726154209193Row 8 - Cell 7 Row 8 - Cell 8

John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.