Gold may be on the verge of a major price collapse

[indahook]

I have been plugging away buying UUP(dx etf)..I prefer trading in cash..lil bit everyday for the last 2 weeks. My only regret 1 year or so from now will be that I didn't go bigger i`m sure.

Trades like this do not come along everyday.

 

[Tums]

Quote from Cutten:

After the big move down from 2 decade highs a few days ago, gold rebounded for a couple of days and got back up from $792 to $820. This is fairly typical in the early stage of a potential price collapse,...

thanks for the buy signal.

 

[thriftybob]

Its now almost exactly at a 50% retrace of the upmove from $726.

If this doesn't hold, I'd guess to look for support at $750 to $760 next.

Its all about the dollar, IMO, not gold.

 

[jwecme]

You should be buying gold here aggressively and silver as well in 2 years time it will be 30 dollar silver and 1000 gold nuff said. Start buying

....what a ridiculous post by the originator of the thread.

BUY BUY BUY BUY BUY

and juts in case you did not get that BUY BUY BUY some MORE.

 

[moo]

Quote from Cutten:

Other trades on this theme are short oil, short the carry trade (i.e. go long Yen vs short AUD/NZD/CAD/EUR)...

I agree with you on the need to eliminate the carry traders and other weak hands. But once that is over, gold should rally hard and long. I am looking for a short pullback (to perhaps 750) like we saw in December 05, and then a strong rally. If you check the COT reports from that time, you will notice that speculative positions stayed high throughout that rally.

 

[QQQShort]

Quote from Pa(b)st Prime:

I agree. I think stocks are approaching global meltdown and if there's any one commodity that IMO will also become less inflated, it's gold. I could see long grains/short metals as a high risk/high reward play.

For this to play out, would not the dollar probably strengthen?

 

[Rearden Metal]

Quote from Cutten:

All I see is a nice buyable dip in a raging bull market.

East-Asians love to hoard their gold bullion, so I don't see gold weakening much at all until the Asian Tiger quits roaring.

 

[suriNotes]

Gold Chart with Fib. Ratios

Regards,
Suri

 

[daddyeaux]

with this kind of printing press running flat out....

me bets on gold.........

 

[rcanfiel]

if you want to hold gold, just do some serious "dollar cost averaging" to lower total per ounce price. No one really knows what it will do, but...