Gold correction has ended
- Thread starter GlobalFinancier
- Start date
Ok, the 750 target was half joking 
.
http://apnews.excite.com/article/200...D8I8M4F00.html
What I see is a probable improvement between US-Iran relations.
1)Neither side would want to seem like they fell into al-Qaida's plans, so they'll be more willing to negotiate.
2)It is unlikely that al-Qaida can sway Iranian policy, so it might be eyewash. Perhaps it might be implanted by the coalition to shift blame to al-Qaida for the US hawkish stance since they don't want war. It may also be implanted by Iranian agents since Iranian prez knows he can't afford war and wants out.
Either way, this leads a possible improvement in US-Iranian relations, which will be bad for oil and gold in the intermediate term.
Note that this does not mean I will sell gold, it means that this may create pressure for gold in the intermiediate term. So $600 is a more likely target.
.http://apnews.excite.com/article/200...D8I8M4F00.html
What I see is a probable improvement between US-Iran relations.
1)Neither side would want to seem like they fell into al-Qaida's plans, so they'll be more willing to negotiate.
2)It is unlikely that al-Qaida can sway Iranian policy, so it might be eyewash. Perhaps it might be implanted by the coalition to shift blame to al-Qaida for the US hawkish stance since they don't want war. It may also be implanted by Iranian agents since Iranian prez knows he can't afford war and wants out.
Either way, this leads a possible improvement in US-Iranian relations, which will be bad for oil and gold in the intermediate term.
Note that this does not mean I will sell gold, it means that this may create pressure for gold in the intermiediate term. So $600 is a more likely target.
Ditto. I think one more failed rally will get some selling from long-term trend followers.
Sell 567... oh well was fun while it lasted.
ok. why did open interest go UP in all this selloff. shouldn't we have see O/I contract?
How do you know?
You forgot my last post
. Where I sold at 567.It was more of a dramatic effect, I'm a trader, I DON'T KNOW what will happen next. I just know that I have an edge over the long run.
I will avoid oil and gold as I expect the war premium over gold and oil prices to disappear over the next few weeks as Iran cools down...
Quote from GlobalFinancier:
You forgot my last post
It was more of a dramatic effect, I'm a trader(though my best positions are held for months
I will avoid oil and gold as I expect the war premium over gold and oil prices to disappear over the next few weeks as Iran cools down...