Gold correction has ended

Just curious, because you sure have posted a lot lately about gold - and been wrong a lot as well on it. Why do you believe it's resumed it's uptrend?
 
Quote from Ivanovich:

Just curious, because you sure have posted a lot lately about gold - and been wrong a lot as well on it. Why do you believe it's resumed it's uptrend?
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Yeah, I was wrong, about $10/ounce each time wrong. :)
I sense a bottom this time due to
1)cold sentiment
2)strengthening oil(something else I was wrong on)
3)bottoming intraday chart
 
it may be ready for a quick upmove as stockmarkets go into free fall.....however there may be a longer period of consolidation before we have another major move over the old 800 highs.Has anyone taken a look at the chart of the rise in gold in the late 70s? It gives food for thought!
 
I agree that we're bouncing off of oversold levels right now and the only way appears to be up from here. However, I think silver is looking like the more likely candidate for faster and better gains... The silver ETF has already taken a lot of physical silver out of the market and this can only have an effect on the fundamentals of an already tight supply/demand situation.
 
Quote from Ivanovich:

643.
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:) You're clearly not a position trader then.... I think this little dip is a great buying opportunity and that's probably what the funds are doing right now...
 
Quote from contango:

:) You're clearly not a position trader then.... I think this little dip is a great buying opportunity and that's probably what the funds are doing right now...
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How do you judge what kind of a trader I am when all I did was post a number?
 
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