Gold - nows the time to BUY

Exodus · Jun 13, 2006

I trade the tracking stock GLD.

Support and possible bottom of this deep pullback.

Bar bones chart without any of my tools shown!

http://charts.dacharts.com/2006-06-13/Sam107.png

polpolik · Jun 13, 2006

wait for at least 3 up days.

huge dumping on gold going on.

Exodus · Jun 13, 2006

Quote from polpolik:

wait for at least 3 up days.

huge dumping on gold going on.

LOL

As much time as it took me to post this post I got stopped out for .12 risk with a $5.00 first target.:eek:

Will keep an update .....

Longhorns · Jun 13, 2006

That was a vicious move down. :eek:

Exodus · Jun 13, 2006

Quote from Longhorns:

That was a vicious move down. :eek:

Yes it was... a possible blow off ??????

Let's try it again here on a 15 min candle LONG .15 risk (low of day)

romik · Jun 13, 2006

there is nothing on your chart that would suggest the right time to buy, look into TA first and I am sure questions will arise whether it is the right time or not.

Exodus · Jun 13, 2006

Quote from romik:

there is nothing on your chart that would suggest the right time to buy, look into TA first and I am sure questions will arise whether it is the right time or not.

Can you read ?

I've been trading for 18 yrs and manage private funds fulltime !

Do you think I would just post all my proprietary tools on a chart for all ET to view?

romik · Jun 13, 2006

Quote from Exodus:

Can you read ?

I've been trading for 18 yrs and manage private funds fulltime !

Do you think I would just post all my proprietary tools on a chart for all ET to view?

Where did you mention that?

In that case I am sorry, I expressed my point of view looking at my chart and did not see any signs of reversal, same for silver, IMO they are still bearish.

volatilitypimp · Jun 13, 2006

Quote from Exodus:

Do you think I would just post all my proprietary tools on a chart for all ET to view?

Ya 'cause every trader on ET will drop everything they are doing and start using your precious indicators, thereby making your system obsolete. right?

smilingsynic · Jun 13, 2006

Gold's rise was parabolic. Parabolic moves, once they're done, tend to go down hard.

Imho, bottom fishing in gold or any market that has undergone a parabolic move is too dangerous for my capital. Remember, there are still some long-term trend followers who are still long. If they bail, watch out.

Until the bottom holds for more than a few days, rallies should be sold.

Good luck to all.