Have read we may be double topping gold, honestly I have no idea what drives gold prices, all I know is I bought low, and will continue to hold it until it's no longer going up, I'm not kept awake at night too much by its prospects... Anybody who has tried to forecast short term gold movements has always been around 50-50, but long term, it's been a bull market since the dot com bubble burst... My strat for this baby is wait for a pullback to even the mid to high 400's, get in, if we keep going down, you won't lose your shirt, but long term it's probably still a bull
Ben Bernanke Bonds and the greenBack
- Thread starter gharghur2
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Have read we may be double topping gold, honestly I have no idea what drives gold prices, all I know is I bought low, and will continue to hold it until it's no longer going up, I'm not kept awake at night too much by its prospects... Anybody who has tried to forecast short term gold movements has always been around 50-50, but long term, it's been a bull market since the dot com bubble burst... My strat for this baby is wait for a pullback to even the mid to high 400's, get in, if we keep going down, you won't lose your shirt, but long term it's probably still a bull
Quote from gharghur2:
Long term, it is a bull.
I believe we are in the tale end of primary wave 3 from the April 2001 bottom. Remembering the days that I was a gold bug. Primary wave 5 usually makes the other two waves look like orphans. When Gold gets running it goes parabolic.
YOu bought any ounces yet? I'm in a small position from 430, at the time I thought I was late... now I"m still thinking i'm waaay early
Nice buy!
No, just finished analyzing gold. I see a couple of more waves up and then a sharp pullback Will be a buyer then. Didn't believe it until I took a really good look.
Read Bill Gross's blog. Expecting rates to stay low for years ???
Some talk of Bernanke's savings glut. All I see is a potential Bond glut.
2006 should be wild! bull markets galore...
No, just finished analyzing gold. I see a couple of more waves up and then a sharp pullback Will be a buyer then. Didn't believe it until I took a really good look.
Read Bill Gross's blog. Expecting rates to stay low for years ???
Some talk of Bernanke's savings glut. All I see is a potential Bond glut.
2006 should be wild! bull markets galore...
Not sure what is happening with gold.
The pullback to 490 from above 500 was very quick and the run-up to above 550 was equally as quick.
I thought for sure that CB intervention in the form of sales would happen. If it did, there is MUCH more demand that I percieve. CB's may be waiting for higher levels to punish the market further.
I've been long since 380, averaging in on the way up, last buys were $440, $501, and $543. On a strong retracement I buy size. Think we see $600 soon.
Watching silver closely. Run up in gold will spill over into there. More proportional profit. Long since $5.25.
Rates maintained artificially low - will rise quickly if bretton woods ][ paradigm falls apart. Long term bond should be at 8% for many many reasons. I am less of a deflationist right now, but reserve the right to become one again in the future.
The pullback to 490 from above 500 was very quick and the run-up to above 550 was equally as quick.
I thought for sure that CB intervention in the form of sales would happen. If it did, there is MUCH more demand that I percieve. CB's may be waiting for higher levels to punish the market further.
I've been long since 380, averaging in on the way up, last buys were $440, $501, and $543. On a strong retracement I buy size. Think we see $600 soon.
Watching silver closely. Run up in gold will spill over into there. More proportional profit. Long since $5.25.
Rates maintained artificially low - will rise quickly if bretton woods ][ paradigm falls apart. Long term bond should be at 8% for many many reasons. I am less of a deflationist right now, but reserve the right to become one again in the future.
Nice buy at 380, I'm have one slight reservation about gold in that as a hard asset it may not rise as quickly as many of its other friends... I'm much more bullish on oil, it's expendable, it's usable and demand seems to go beyond just CB hedging. I'm Canadian, so even though I bought gold pretty low, my gains haven't been super since the dollar has fallen during that period... So that's my only reservation about hte future of gold, if the dollar deflates proportionally to gold's increases, I may be disappointed... just something to keep in mind
IN summary, there's no point in being a millionaire in Argentine Pesos
We gave up your deflationists rights when you bought Gold. Nice buys too!
I think Gold is rising on the belief that the continuing bull market in Crude will eventually be inflationary. Bonds seem to looking that way too. If you know, Gold, it's never over until there is a major parabolic move. And, then it falls over fast.
The Dollar finally broke today after spending about two weeks in a trading range. Feel it should now pullback into support around 86 before embarking on the next leg of its bull market. See chart:
After this pullback, BULLISH on the greenback!
http://spaces.msn.com/members/caldaroEW/
After this pullback, BULLISH on the greenback!
http://spaces.msn.com/members/caldaroEW/
<i>A technical indicator suggested that losses in the U.S. currency will stall. The 10-day relative strength index against the euro was about 69.396 yesterday. A level around 70 signals a reversal may occur.</i>
http://www.bloomberg.com/news/markets/currencies.html