After having once again failed at the $1,696 resistance level on Wednesday, gold prices headed lower for a third straight session this morning. In the process, the pivotal 200-day moving average price near the $1,608 level was breached by sellers.
A sprinkle of optimism coming from Europe coupled with some early corporate earnings reports that came in better than expected was enough to send the equity markets into a decent one day rally that spread to the oil sector.
Although he first operated a CTA in the go-go ’80s and ’90s, Steve DeCook now is taking a more conservative approach. We talk to him about running a CTA in two different eras, the money flow trade and fundamentals in the grain markets