Gold - on cusp of massive bearmarket :)

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Quote from achilles28:

Gold up ~30 bucks since our little chat yesterday.

Nice call !
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Gold is up nearly 20 bucks from that post.

Up ~50 bucks since i told you to get long.

While you're flipping coins, real traders are making money.
 
*GOLD
__1349.00__ +10.10 __+0.75%



I'm bullish on gold but after seeing this type of run and this much talk about how high it's going means it's time to sell, once the selling begins (which should be very soon) it's going to drop a bit quicker than it rose. Don't be surprised if it drops over $100 an ounce in the next month or so. Now is a time to be taking profits. You will be able to buy all the gold you want under 1200 an ounce, don't chase it or you will regret it in the long run.
 
No point in shorting this massive bull. But watch out. If the republicans get control, and try to stop the printing presses, the demand for gold will fade quickly.
 
Quote from joe4422:

No point in shorting this massive bull. But watch out. If the republicans get control, and try to stop the printing presses, the demand for gold will fade quickly.
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Why do you assume it is solely the US citizen appetite that dictates gold's performance?
 
Quote from S2007S:

*GOLD
__1349.00__ +10.10 __+0.75%



I'm bullish on gold but after seeing this type of run and this much talk about how high it's going means it's time to sell, once the selling begins (which should be very soon) it's going to drop a bit quicker than it rose. Don't be surprised if it drops over $100 an ounce in the next month or so. Now is a time to be taking profits. You will be able to buy all the gold you want under 1200 an ounce, don't chase it or you will regret it in the long run.
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We have had about 3 or 4 pullbacks from over 30% last few years.

Plenty of opportunity to buy on weakness.
 
Quote from achilles28:

Gold could easily drop a couple hundred. Doesn't mean it'll break 1000$ anytime soon. Fundamentally, gold is a total bull.
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A large chunk of gold's recent strength is due to the weakness in the USD.

Should gold retreat accompanied by a strengthening USD gold's price in foreign currencies could very well hold their ground to a large extend and thus retain it's attractivity for buyers across the board.
 
Quote from achilles28:

Gold could easily drop a couple hundred. Doesn't mean it'll break 1000$ anytime soon. Fundamentally, gold is a total bull.
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DBs' problem rests in his expectations of deflationary environment to set in around the globe. Perhaps he will be correct one day, after all austerity measures are likely to cap growth after all, but right now governments seem to be trying to inflate their way out of debt. And that's being reflected in equities & commodities. How long can that last intil deflation sets in is an unknown variable.
 
Quote from deadbroke:

Still trying to catch the inevitable SHORT of the DECADE ...


A 4H close below $1,310 is an aggressive TP/reverse level.

Trendline will breaK around 1306.

This combo is now the area to watch for the SHORT.

NOOOO way interested in LONG.

:) :)
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Reiterating, reversal imminent ... currently a closing break below $1310 on 4H will set it in motion.

some commonsense thoughts in next post
 
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