Your roadmap for gold

John C Burford profits from turbulence in the gold market to lay down a superb set of tramlines for his next trade.

Before I cover gold today, I wanted to drop you a quick note on myGBP trade from Friday, as it confirmed my forecast for an increase in bearish sentiment last week.

You'll remember that I had a long trade working. But the market was hit very hard again, stopping me out at break-even.

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OPEN INTEREST: 166,060
COMMITMENTS
57,98947,3673,24885,11684,976146,353135,59119,70730,469
CHANGES FROM01/22/13 (CHANGE IN OPEN INTEREST: 5,240)
-2,2125,1041,09515,217-8,31214,100-2,113-8,8607,353
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
34.928.52.051.351.288.181.711.918.3
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 98)
2530925305366Row 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.