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Gold is having a bad year so far…
After a meteoric rise in 2020 to all-time highs – as investors flocked to the safety of precious metals in the face of a struggling global economy – gold prices continued to fall, with another massive drop on Friday.
The move marks the first time that gold has fallen below $1,900 an ounce since July, signaling a reduced appetite for bullion and greater interest in stocks and bonds.
Even as jobs numbers continue to disappoint, it has done little to buoy declining gold prices.
The widely held belief that the world will recover from COVID-19 this year, and that additional government stimulus efforts are forthcoming is helping to support more risk-on trading.
While buying gold at such depressed prices can certainly be enticing, further bullish outlook for economic recovery could continue to drive gold prices down for the time being.
Trading tip of the week
As traders, we’re always on the lookout for more information to inform our investments. But knowing what information is accurate and in your best interest is one of the most important determinations you have to make.
Every day, I see so many talking heads on TV simply “talking their book” – meaning that they’re hyping up the stocks in their own holdings to create more interest and drive up prices.
So, let me share this one piece of advice with you…
Nothing on TV matters at all. As Jim Cramer says, “You want a tip? Tips are for waiters.”
There are so many people out there that just make crazy predictions in order to get attention. To me, the only thing that matters is buyers and sellers. More aggressive buyers, prices go higher. More aggressive sellers, prices go lower.
That’s where my focus has always been, and it’s made me a ton of money.
This buyer-and-seller-focused approach is already off to a great start for 2021.
Those who followed the recommendations from my S.C.A.N. trading algorithm could’ve pocketed total returns of over 20%…
Not bad for a little over a week’s work!
My proprietary formula has more opportunities in its crosshairs, and I want to share them with you today.
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Earnings report to watch
All eyes will be on Delta Air Lines, Inc. (DAL) this Thursday before the open as the company reports its Q4 2020 earnings.
While expectations are rather low, considering worsening COVID-19 infections here in the U.S. and around the globe have stymied any recovery in air travel demand, investors will have a sharp eye out for any forward guidance Delta has to offer.
The airline industry is poised for one of the biggest comebacks in the market over the next several years – and with the fourth most destinations among all airlines, Delta has the flexibility to capture a significant share of the new wave of travelers, wherever they’re coming from.
Any dip off of this week’s earnings report could present one of the best buying opportunities of the year.