February Gold (ZGG8)

usdx resuming downtrend it would appear...

http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

gold breaking out in multiple time frames... close to taking out 30 year highs and triggering lots of stops...

http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

oil 96$. i think $100 would be a spooky level to break psychologically..
http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

inflation in the picnic basket

i like this break on gold...
 
Quote from Shagi:

Gold Rocket to $1000 - move started jump on board & load up truck loads

Platinum leads - enjoy this is gonna be one slizzler
More...

READ MY LIPS:p
 
I just shorted 3 contracts of gold, this trend can't last. I mean, all of the gold that has ever been mined still exists...the supply is practically infinite. Demand is purely psychological in nature, the entire bull run in gold confounds me.
 
Quote from janvir19:

I just shorted 3 contracts of gold, this trend can't last. I mean, all of the gold that has ever been mined still exists...the supply is practically infinite. Demand is purely psychological in nature, the entire bull run in gold confounds me.
More...

Why can't it last? Sounds like you are trying to convince yourself that the short is a good trade despite the huge uptrend in gold since earlier this Fall. If the bull run confounds you, why short it blindly?

Trends can run as long as they want to pretty much...
 
Quote from janvir19:

I just shorted 3 contracts of gold, this trend can't last. I mean, all of the gold that has ever been mined still exists...the supply is practically infinite. Demand is purely psychological in nature, the entire bull run in gold confounds me.
More...

I think long term gold over $900, but its due for a big pullback. The volume on these up moves, especially this week with the holidays, is a joke. We will see after New Year's if this is sustained. I am liking 700-720 for a buy.

This is for a position trade.
 
optioncoach, that's a fair point. In fact, I have lost quite a bit shorting gold since 2004, so a better plan might be to stay flat since I can't justify the bull case (I never trade technicals alone).

In any case, I have a tight stop at 850 in the present situation.
 
Well in disclosure I am long since 814 but after that large conolidation and this breakout the past few days, I am inclined to stay long until 850 unless the price breaks down and drops back towards my breakeven.

I hate losing money when I feel a trend cannot possibly continue cause that is when it decides to doulbe its efforts to move away from me lol...

Good luck on your short but since I am long I hope we both get out somehow happily..
 
Quote from janvir19:

I just shorted 3 contracts of gold, this trend can't last. I mean, all of the gold that has ever been mined still exists...the supply is practically infinite. Demand is purely psychological in nature, the entire bull run in gold confounds me.
More...

The supply of confetti money to buy the gold with is growing at many times the rate of increase in gold supply. The problem is its too easy to just print more of it, and so they do...
 
Quote from janvir19:

I just shorted 3 contracts of gold, this trend can't last. I mean, all of the gold that has ever been mined still exists...the supply is practically infinite. Demand is purely psychological in nature, the entire bull run in gold confounds me.
More...


Since when does understanding matter? And wouldnt you need perfect information to understand anyways?

Gold, paper money, digital shares themselves have no value. Food, shelter, clothing, land etc, items you consume and utilitize are of value.

People are converting worthless controlled paper money into a less corrupt intermediary of bullion.
 
You must log in or register to reply here.
Back
Top