Gold is predicting big problems ahead!
- Thread starter studyandtrade
- Start date
And I add:
Today, Friday January 20th, '06 we have seen the biggest down day in the Dow since the start of the top in January '04. I quote Jesse Lauriston Livermore: "Never be afraid of the normal movement. But be very fearful of abnormal movements. --- and by abnormal I mean a reaction from an extreme price, something it has not had before. And when something happens abnormally stock-marketwise, it is flashing you a danger signal which must not be ignored." (page 22 & 24 'How to Trade in Stocks')
My post was specifically directed at dontâs ill informed comment and not an inducement on anyone to blindly accumulate gold without addressing their particular circumstances. Although I hold physical gold, I am not particularly fond of the stuff, and only hold it as a form of insurance, which is all it is. One can make a lot more money in this climate than they can by buying gold. For you to suggest that I get real on anyone honoring MY gold futures contracts is pure fantasy since I only ever mentioned physical gold, never gold futures, which I agree with you have every possibility of not being honored in a serious crisis. Gold has served as a medium of exchange through eternity and in all manner of crisis. Food, shelter clothing, water etc do not make good exchange mediums, and Iâm not about to pay for my medical supplies with sex, so gold has a purpose at the end of the day for me at least. The US BTW will never be like Eastern Europe because it is not cut off from the rest of the world, and as for the US going through a WWII scenario internally, thatâs ridiculous.
My purely-mechanical trendfollowing system went long Gold futures on 19 September 2005 and got filled (including contract rollovers) at 471.5. Gold futures closed on Friday at 554.0 for a gain (so far) of $8250 per contract. I don't personally give a crap about "fiat money" or any of the other argumentative, obnoxious phrases that goldbugs obsess over. But for now, gold futures are in a trend (up) and I'm aboard. When it ends, I'm out. When it skyrockets downwards into the absolute toilet, I'm short. No emotions, no preening about "My prediction came true", no "I told you so", just simple following the trend.
1. Wait until it's FwordING obvious the trend is up, then go long.
2. Wait until it's FwordING obvious the trend is over, then exit.
3. Wait until it's FwordING obvious the trend is down, then go short.
Not rocket science.
(link to my system)
1. Wait until it's FwordING obvious the trend is up, then go long.
2. Wait until it's FwordING obvious the trend is over, then exit.
3. Wait until it's FwordING obvious the trend is down, then go short.
Not rocket science.
(link to my system)
Hogwash!
I am from Eastern Europe and people always hoarded gold and real assets at the time their currencies were in real trouble. many jews live's were saved during WWII exactly because they had gold. My family lived thru WWII and 1956 revolution and while the other assets you mentioned were important - they usually could be bought for gold ! Case closed...
I am from Eastern Europe and people always hoarded gold and real assets at the time their currencies were in real trouble. many jews live's were saved during WWII exactly because they had gold. My family lived thru WWII and 1956 revolution and while the other assets you mentioned were important - they usually could be bought for gold ! Case closed...
I'm long oil stocks and I"m not in category 1.
In turbulent times, you need two things, GOLD and the gun. Yeah, you want bread? Make the baker an offer he can't resist(from the Godfather )
rginalskunk