Gold correction has ended

[ehsmama]

Quote from imsurfing:

So why is gold going up this evening? I'm used to seeing spikes at about 2 am east coast time, when the london market starts buying, and/or the asian market starts buying anticipating that the london market is going to drive the price up.

at least that's what i, er, speculate, is going on.

Gold is going up, giving us all a chance to reestablish Shorts for next down move.

 

[SethArb]

hope you were not short after the FOMC announcement

wow ... gold futures above $600 again

 

[GlobalFinancier]

Quote from GlobalFinancier:

587, cover&long. Hmm, not fun, but if we can break $600, then pyramid etc. *Shrugs* equity getting somewhat eroded by these short term trades though the negative impact is quite limited.

Now it's time for pyramiding after all that whipping and lashing and losing and getting pinned a "contrarian indicator"(which I am in a consolidating market, something I freely admit)
Now it's time to make some serious money .

 

[drsteph]

Quote from GlobalFinancier:

Now it's time for pyramiding after all that whipping and lashing and losing and getting pinned a "contrarian indicator"(which I am in a consolidating market, something I freely admit)
Now it's time to make some serious money .

Ummm... I wouldn't be so quick with that sonny...

Yes, it might be a new upmove, but... might set a profit target before 620ish, at least for part of your position.

 

[Ivanovich]

Quote from GlobalFinancier:

Now it's time for pyramiding after all that whipping and lashing and losing and getting pinned a "contrarian indicator"(which I am in a consolidating market, something I freely admit)
Now it's time to make some serious money .

I hope you know I was just teasing you.

 

[GlobalFinancier]

624.40, selling half for now.

 

[GlobalFinancier]

I feel the korean threat is overhyped. Technicals bad, euro crashing.
Selling more actually. 623.90

 

[GlobalFinancier]

Sold 621 All. No point in holding any if I feel it's going to get cheaper....

 

[GlobalFinancier]

Ok, might be wrong . 625.60 now, buy on 630 break.
Way too influenced by "Menta Li Ill is our King, he can't hurt a thing. Menta Li Ill is our King, he misses everything. "

 

[drsteph]

Moe Foe.

Got stopped out on my trailing long 3 pips above the low.

Still nicely profitable (long at 559.5), but put my stop purposely low where I thought I would have enough margin to avoid fake out moves. Should have just kept it tight and stopped out at 628.

Rats!


Will see what happens b4 I get back in again. I say it goes lower b4 it goes higher, although if sabres start rattling, who knows what happens.