Patrick MontesDeOca, CEO of the Equity Management Academy, today (January 31, 2017) discussed the buying and selling recommendations in a report published on Saturday, January 27 based on the VC Price Momentum Indicator. The indicator is a proprietary set of algorithms which MontesDeOca uses to trade his fund and to advise the select group of Academy subscribers.
The report published on Saturday said that if gold closed above $1172, which would be above the 9-day moving average, the market would be “bullish.” If the market closed below $1172, such a position “would negate this bullish short-term trend.” Gold closed above $1172, so, MontesDeOca said on Saturday, “Gold is bullish, based on the 9-day moving average.” He also uses the mean price value for the week, which marks the equilibrium point of the week. This week that point was at $1199. If the market closes above $1199, he said, “That would negate this bearishness and would activate a neutral signal.” The VC Price Momentum Indicator clearly shows subscribers where to take profits. On Saturday, those points to take profits were $1218 to $1220. The report recommended exiting long positions between $1215 and $1239.
So what has happened thus far this week?
The high gold thus far is about $1217. MontesDeOca said, “We have gone through the $1215, $1218 area, and this target has been completed. . .This is where you can rest, take some profits and wait for the market.”
If the market closes above $1215 for the week, the new target will be $1239. If the market closes below $1215 this week, the reversion to the mean should occur with the weekly code at $1189 or about $1196.
MontesDeOca said, “Targets have been completed on the swing to the upside. The beauty of the VC Price Momentum Indicator is that it tells traders where to enter and exit without judging the market.”
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