Gold is finished

shortie · Aug 5, 2011

Quote from peilthetraveler:

People liquidated their gold & silver positions meet margin requirements in other assets. 500 point drop in the dow is going to be some big margin calls for some people, so they have to get out of gold temporarily. If the market catches its breath tommorrow(meaning we stay flat or go up in the dow and not down again), we should see metals go up. Might even see them go up tonight depending on how asia and europe sessions go.

so if Gold were to drop 10% then people would liquidate their stock holdings? that makes a lot of sense

glenviewcap · Aug 5, 2011

lets everyone go long gold and short everything else

tradingjournals · Aug 5, 2011

I also believe the top is in (1283 was made yesterday). 1671 now. I doubt it would go above 1280 on this retest of high.

peilthetraveler · Aug 7, 2011

Quote from shortie:

so if Gold were to drop 10% then people would liquidate their stock holdings? that makes a lot of sense

If they wanted to hold their position in gold, yes they would.

peilthetraveler · Aug 7, 2011

Quote from peilthetraveler:

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Quote from ChkitOut:

Looks like I may have been a little early in my call but we're getting started on the plunge right now.
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Even a broken clock is right twice per day.

Just like I called it. You, just like a broken clock, were right for exactly 1 minute. Gold just hit a new all time high and is almost at $1,700 per oz as I write this.

ChkitOut · Aug 7, 2011

Quote from peilthetraveler:

Just like I called it. You, just like a broken clock, were right for exactly 1 minute. Gold just hit a new all time high and is almost at $1,700 per oz as I write this.

Trust me.

stock777 · Aug 7, 2011

Gold is trading with profound sincerity, and has been for some time.

peilthetraveler · Aug 8, 2011

Quote from ChkitOut:

Trust me.

Had I trusted you when you started this thread, I would be down about $7,000 per contract as of tonight.

athlonmank8 · Aug 8, 2011

Quote from the1:

That's what I'm trading, the 5-min chart. Will it retrace today's move tomorrow? Who knows but as long as the US keeps borrowing and printing Gold ain't coming down with any conviction. A correction maybe but even that will be mild. The nice thing about the GC is you don't even have to take a large position on it to make good coin. I made $6,300 on a tiny 5-car position. It's a great instrument to trade!

I remember my first trade......

spanish89 · Aug 8, 2011

Just hit around the 1,1715 area....,

I cant wait to short the fuck out of this piece of shit soon!!