buying gold here?

Quote from SethArb:

hi drsteph

a $100 stop loss order in gold ?

you must trade once a yr and have really long term price objectives

hello GHargur2

do you trade real money ? as much as it is nice to say new highs coming ... would you have stayed long a gold position as it dropped about $40 from the highs late last week before rebounding ?

:p
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Hi Seth,
Looks like Gold should top on this next series of highs.
I'm mentioning it here because I remember your comment.
 
Quote from gharghur2:

Hi Seth,
Looks like Gold should top on this next series of highs.
I'm mentioning it here because I remember your comment.
More...


Time to start taking profits ...
 
GOLD: As expected gold rallied and made new highs, but is now close to an intermediate term top. Start to get defensive, when it turns down there could be a steep drop back to the $530's.
 

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I dont know about 530 maybe u mean 630's?????
Gold is in nice uptrend right now I dont know if u can get reverse and drop 100 points in any near future/
 
True!
It should have a little more to the upside and then depending on where it actually tops, there will be a better indication of where the next bottom might come in.

But the Gold stocks are not confirming the recent new highs in gold and that is usually a cause for concern, as well as the fact that it has almost completed five waves up from the $530 flat it posted in Feb/Mar. In other words, it's no time to be getting long and probably time to start taking profits.
 
oooo.......no for short period of time say 1-10 days ill be short but then Im long again, US dollar is not doing to well, plus all other geopolitical circumstances come in.
 
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