Gold has set the final top and broken down support; it will go to 1300-1200 the coming months.
There should be lots of nice trades in the down move.
There should be lots of nice trades in the down move.
Breakdown in Gold is imminent!
- Thread starter flipside21
- Start date
$1460 - $1500 is an important level, that's where the parabolic move started from.
Long term bulls if they have any brains should be loving this weakness as it will offer chances to add to their holdings.
However, most of them are idiots, they follow the market day to day and are very easy to panic (the boys know this only too well and play them like fiddles).
Here's a simple way to play Gold correctly, assuming your believe it has the potential to rise significantly over the coming years.
1. Don't think
2. Don't use margin
3. Only buy physical (NO ETFs)
4. Only a maximum of 20% of net worth (Gold is an insurance play against your other assets going down)
5. Don't follow prices everyday, what happens this week and month are irrelvent to what happens next year
6. Put these orders in to buy $1500, $1450, $1400, $1350 and all the way down to $1000 (unlikely to get there but you never know with Gold)
7. Sit back and wait, then probably wait some more, and even more likely wait some more.
8. Only ever sell on EXTREME strength AFTER the market has already moved up $200+. But only sell a maximum of 25% of your holding, then look to repurchase that 10%-15% lower. Whatever you do DO NOT try to be clever and sell more than 25%, if you do expect the market to move considerably higher without you onboard.
9. Pick an ultimate target. Some say $3000, others $5000 and some as high as $10,000. Or perhaps stagger your selling, 33% at $3000, 33% at $5000 and the balance at $10,000. Whatever the case have a plan and STICK TO IT (this will probably be the hardest part of the exercise)
Follw these rules and you won't go far wrong (assuming muchhigher Gold) and you won't be made to look a complete fool by the boys (you were right about the movement but got shaken out by the short term price movements and games being played), in fact they'll respect you for following a plan where their tricks and games can't hurt you...
Long term bulls if they have any brains should be loving this weakness as it will offer chances to add to their holdings.
However, most of them are idiots, they follow the market day to day and are very easy to panic (the boys know this only too well and play them like fiddles).
Here's a simple way to play Gold correctly, assuming your believe it has the potential to rise significantly over the coming years.
1. Don't think
2. Don't use margin
3. Only buy physical (NO ETFs)
4. Only a maximum of 20% of net worth (Gold is an insurance play against your other assets going down)
5. Don't follow prices everyday, what happens this week and month are irrelvent to what happens next year
6. Put these orders in to buy $1500, $1450, $1400, $1350 and all the way down to $1000 (unlikely to get there but you never know with Gold)
7. Sit back and wait, then probably wait some more, and even more likely wait some more.
8. Only ever sell on EXTREME strength AFTER the market has already moved up $200+. But only sell a maximum of 25% of your holding, then look to repurchase that 10%-15% lower. Whatever you do DO NOT try to be clever and sell more than 25%, if you do expect the market to move considerably higher without you onboard.
9. Pick an ultimate target. Some say $3000, others $5000 and some as high as $10,000. Or perhaps stagger your selling, 33% at $3000, 33% at $5000 and the balance at $10,000. Whatever the case have a plan and STICK TO IT (this will probably be the hardest part of the exercise)
Follw these rules and you won't go far wrong (assuming muchhigher Gold) and you won't be made to look a complete fool by the boys (you were right about the movement but got shaken out by the short term price movements and games being played), in fact they'll respect you for following a plan where their tricks and games can't hurt you...
Gold is going to $3000 within the next 2 years! Also prepare to see $50-$100 intraday gold movements on a regular basis.
-Action
-Action
If the fed so much as sneezez a rate hike, you can forget gold. Look at the tormoil in Europe and investors already moving to the dollar.
How long do you think bernake is going to keep rates low? if the economy picks up and we manage to get under 7 percent unemployment, I'm pretty sure he'll start raising rates.
Its not going to happen tomorrow, but neither is gold at 3000
http://infographicboard.com/economy/how-the-russian-ruble-has-added-and-lost-zeroes/
how about 3,000,000$ next year
"The only industry which thrived was that concerned with the production of paper money."[10] The amount of currency in circulation from the beginning to the end of 1920, rose from about 225 billion rubles to 1.17 trillion.[10] This represented a 25-fold increase over the amount of paper money in circulation in 1917.[15
History of the Rouble
Background
The rouble (or ruble) has been the currency in Russia for 500 years. The name âroubleâ is thought to come from the Russian for âchop,â literally referring to the way a section was cut off a silver ingot, which was the very first incarnation of the currency, with each section holding a different value depending on its weight.
There is no official symbol for the rouble although many options have been suggested over the years, including a âPâ with two horizontal stripes. However, the abbreviation âðóáâ is often used in writing.
In 1710 the rouble was first divided into kopecs, 100 of which made up a rouble. Ten roubles are sometimes referred to as âchervonetsâ, in reference to the Soviet gold chervonets issued in 1923 that were the equivalent value.
Redenominations
There have been seven different incarnations of the rouble, due to various drastic changes in the currencyâs value, with the most recent being released in 1998.
The FIRST rouble was in place for over 200 years up to 1921 when it fell dramatically in value.
The SECOND rouble was the first in the series of redenominations, swapping one ânewâ rouble for 10,000 âoldâ roubles. These were introduced in 1922.
A quick redenomination took place the year after, valuing the new rouble at 1 to 100 of the former roubles. This was the THIRD rouble.
In 1924, the FOURTH rouble, known as the âgold roubleâ, was introduced and lasted until 1947. This one was valued at 50,000 of the previous issue of the rouble.
After the Second World War the government attempted to reduce the amount of money in circulation by imposing a confiscatory redenomination on paper money, which valued the new rouble at one tenth the value of the fourth rouble.
From 1961 to 1997, the SIXTH rouble was in circulation and the redenomination was based on the same terms as the 1947 redenomination. After the fall of the Soviet Union in 1991, the rouble remained the currency of the Russian Federation. During the early 1990s there was a period of hyper-inflation which meant the currency fell significantly in value.
In January 1998 the seventh rouble was introduced. It was valued at 1,000 of the previous roubles in what was simply a psychological step. Later in the same year, the rouble lost 70% of its value against the US dollar in just six months following the Russian financial crisis of 1998.