Get Ready to Short a Gold Stock!
- Thread starter gugaplex
- Start date
SPOT GOLD FIVE HUNDRED AND SEVENTY EIGHT!
Above $575 RESISTANCE, BULL!
Above $575 RESISTANCE, BULL!
i can see the hard part of this is going to be deciding where to take profits. how did you make the decision to exit half of your diversification into gold 2 weeks ago?
http://za.today.reuters.com/news/ne...RTRIDST_0_OZABS-MARKETS-PRECIOUS-20060330.XML
" LONDON (Reuters) - Gold raced to a new 25-year peak on Thursday and silver spiked to its highest in more than 22 years as fund managers pumped more money into commodities ahead of the quarter-end.
Precious metals also got support from technical buying, strong base metals and a softer dollar, with prices seen heading towards their next big upside targets, analysts said.
Gold climbed as high as $579 an ounce, the strongest since January 1981, and was quoted at $578.00/578.75 by 0923 GMT. It closed in New York at $573.10/574.00 late on Wednesday."
heh.
don't look now, but the whole sector is running, not just gold. <b>mess with the bull, you get the horns!</B> (ati, tie, aauk, etc...)
the decision was easy. i had massive profits. i took them. piggishness is not my style
gold and HANS have been my two best investments. HANS up over 600% (i sold the last @ 120), and gold (with the massive leverage of gold futures) equally handsome
i was not a trader in the tech bubble. i did read story after story of people with massive profits who did NOT take them and saw their profits turn to losses. that is not me. and it never will be
so, i would way rather start banking profits early, then see a big gain turn into a little gain, or even a loss
i still have a fair amount of my MIDSX , which is my metals mutual fund, and some XAU calls, and a few YG contracts, that i have set a trailing stop on. those will ride .
i remember when i was a little kid, my grandfather (a pretty shrewd guy) was saying (when gold was in he 800's) that only the morons were buying there. boy was he right.,
my GENERAL style on longer term investments is to buy weakness and sell strength.
clearly, this is strength
gold and HANS have been my two best investments. HANS up over 600% (i sold the last @ 120), and gold (with the massive leverage of gold futures) equally handsome
i was not a trader in the tech bubble. i did read story after story of people with massive profits who did NOT take them and saw their profits turn to losses. that is not me. and it never will be
so, i would way rather start banking profits early, then see a big gain turn into a little gain, or even a loss
i still have a fair amount of my MIDSX , which is my metals mutual fund, and some XAU calls, and a few YG contracts, that i have set a trailing stop on. those will ride .
i remember when i was a little kid, my grandfather (a pretty shrewd guy) was saying (when gold was in he 800's) that only the morons were buying there. boy was he right.,
my GENERAL style on longer term investments is to buy weakness and sell strength.
clearly, this is strength
good reply. the only question coming to mind wrt gold in the 800's is, what's wrong with a potential 91% gain? my @GC.P chart shows cbot pit gold peaking at 1529.40 in January, 1980.
personally, the specific appeal of metal is its exponentiality and the fundamentally straight forward reasons that support that. up to this point it has been largely equivalent with a universe of competing assets, give or take stars like HANS.
in the end it doesn't really matter if you're happy and doing well.
personally, the specific appeal of metal is its exponentiality and the fundamentally straight forward reasons that support that. up to this point it has been largely equivalent with a universe of competing assets, give or take stars like HANS.
in the end it doesn't really matter if you're happy and doing well.
nutting wrong with a potential 91% gain
fwiw, my gain has already been much much more than that in metals becauseof the inherent leverage in gold futures, and gold stocks vs. spot gold
but i still hold some MIDSX, some gold futures, and some XAU calls. i just took profits, so i am 100% risk free here. profit locked in.
fwiw, my gain has already been much much more than that in metals becauseof the inherent leverage in gold futures, and gold stocks vs. spot gold
but i still hold some MIDSX, some gold futures, and some XAU calls. i just took profits, so i am 100% risk free here. profit locked in.