February Gold (ZGG8)

Quote from daddyeaux:

no,

if you see your nuts blow out of your nose, you're barely staying even....

Regards,

Ben
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Ok, not going to argue with that.

Ultimately, depends on if you beleive "real" economic statistics, right?
I have always maintained, a good 20% net growth factor is necessary to stay in front, less taxes, fees, inflation, housing prices or any other rubbish economic "thing", so thanks for your honesty.
A little frosting, something, would be nice, but there it is.
That's in a normal western country, obviously.

That is always, no matter which way you slice it, an aggressive approach-everything depends, on everything else, but you are entirely correct.
 
Even though the trend is very strong, both gold and silver are beginning to exhibit some resistance and some commercial selling is beginning to appear. Gold was unable to break over $900 cash today as fund profit taking started to occur. Silver is also stuck right around 16.20 which was the November high print. Personally, I have begun to offset some longs today as I have been holding since 800 and 15 respectively. It is quite likely that a short-term correction will develop relatively soon as the gold shares have also started to moderate somewhat. I'll be looking to reload at the 855-870 area on gold and 15.10-30 on silver next week or two. The commercial entities are now carrying the exact same amount of short positions right before the November correction which knocked about $75/oz. of the gold price soon thereafter. Now is the time to lock in some profits but remain aware that a decisive NY close over $900 and $16.30 should be bot...
 
the silveraxis guy is fairly wide minded but after reading his stuff for about 2 years, he is scared of his own shadow.............

every one his commentaries is soaked with this theory or that theory....

I believe silver is headed to 25 but the market vol. can be enough to whipsaw scared money....

the market is tiny with only $2.4 billion worth of silver at the Comex....

sure the sandbox is bigger than the Comex but that's where all the fat thumbs are.....
 
Quote from sumosam:

Well stated, Realist. There are now only 6% gold bears...the smart money.
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While it may be well stated, I hardly think expecting a correction of $25-$40 makes you a gold bear...
 
Theories are merely intended for entertainment purposes. It keeps the crowd guessing about what "might" happen next. Price proceeds everything in futures. Support and resistance in the metals complex is really the main component that I study. Right now I am still extremely bullish on both gold and silver moving forward. However, there really hasn't been a meaningful correction in gold since it launched from 800 and the same goes with silver since 14.50. The odds of a correction are growing although it may come from higher prices. Nonetheless, it is sometimes best to take some profits and to sit back and watch what happens next. As I previously stated, if 900 and 16.30 are broken decisively to the upside on a NY closing basis, then prices will continue to move forward unabated. For now there is some selling so just be aware of that...
 
Quote from daddyeaux:



the market is tiny with only $2.4 billion worth of silver at the Comex....

sure the sandbox is bigger than the Comex but that's where all the fat thumbs are.....
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Silver is finally starting to outperform gold so far in 2008. Ideally, Silver needs to break out above 16.50 in order to change the continuous P&F to target much higher prices than $25. The possibility remains wide open to see a significant advance in silver over the coming months and I am once again focusing on silver positions over gold at the moment. The critical factor with silver is to buy significant pullbacks and take some off after a wide advance to the top end of the channel. Right now silver could pullback to 15.10-15.30 which represents the lower channel and a solid place to add longs...

BTW, I would not advise shorting gold or silver during this time even if only for a ultra-short-term trade. the upside risks are far to great and any geopolitical, surprise fed cut or DX weakness could send the metals gap up. The time to short will come later this Spring/early Summer...
 
Quote from Realist:

BTW, I would not advise shorting gold or silver during this time even if only for a ultra-short-term trade. the upside risks are far to great and any geopolitical, surprise fed cut or DX weakness could send the metals gap up. The time to short will come later this Spring/early Summer...
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My sentiments exactly. Too many people calling a top and saying its a good time to get some shorts in the market. I couldn't agree less, its a terrible time to be doing such things. While there may be shallow corrections in the near future there are too many factors that could send silver and gold prices up 5-10% in a session or two which would cripple any shorts. Theres a few people on these threads that seem to have difficultly comprehending this, but IMO you ignore Realists advice at your peril.
 
NY close coming over 900 and 16.30 so I would remain 100% long if this ends up being the case. Next target is $1050-$1175 on gold and $18.25-$20.00 on silver as a result...
 
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