Gold Triple Top Price Collapse Soon!!

From 814-816 on four contracts, looking for 920 short term, and 950 by 3/15 from triangle projection and measured move...my two cents (keeping in mind you get what you pay for!).

No chart to post (different computer).

:)
 
Made a tidy little sum to day on my long. Gold might continue up, but who knows? I'm happy right now with consistent profits.
 
Quote from sumosam:

Made a tidy little sum to day on my long. Gold might continue up, but who knows? I'm happy right now with consistent profits.
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Yeah in a way I regret taking off longs Friday...Monday I didn't when it dipped....but then after the move up...it would have been nice to have stayed long.

No worries though, I am happy with the part of the up move I did catch.

Let's see what happens next.
 
Quote from TradEStar:

Watch out..might get a blowoff top with real high volume or a good "wash-n-rinse" first, then Gold will be a safe pullback play for the shorts.
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Like I said..watch out for a wash-n-rinse move or a blow off top. :eek:

I am now flat my very long term Gold position (thank you market for $860.00 in 2008 instead of at the end of 2007.. :cool: ). That was one heck of a ride and I am done playing gold until we get some good pullbacks with panic selling (that may take a while). :)

Praetorian..have any info to chime in on what you think Gold will do this year? BTW, you should have really enjoyed this ride in Gold..great job!
 
Quote from TradEStar:

Like I said..watch out for a wash-n-rinse move or a blow off top. :eek:

I am now flat my very long term Gold position (thank you market for $860.00 in 2008 instead of at the end of 2007.. :cool: ). That was one heck of a ride and I am done playing gold until we get some good pullbacks with panic selling (that may take a while). :)

Praetorian..have any info to chime in on what you think Gold will do this year? BTW, you should have really enjoyed this ride in Gold..great job!
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Guy at TradeForGain wrote a nice article about Gold mining stocks and seems to think it's still going up... read it today, check it out

http://www.tradeforgain.com/market-analysis/looking-at-the-history-of-gold/
 
Quote from jreynolds212:

If it doesnt get above 842, then whammM!!!!

Six questions:

Is the ten year yield going higher or lower? I say higher

Is the dollar moving higher or lower? I say higher

Is oil at a triple top? YES

Is gold at a triple top? YES

Has the $XAU formed a rounded top? YES

Is the $GTX struggling to get over its 2006 highs? YES

Im short right now gold and believe the time has come to throw it on the table!! What says you ETers? The ones who run to buy goldcoins when gold has topped...the ones who run out to buy euros when the dollar has bottomed? Speak up! What says you...
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With all due respect, you're wrong. If you really want to understand whats happening, read the article - http://www.silverbearcafe.com/private/1.08/kondratieff.html

Sumosam, just for you there's some discussion on which Elliot Waves we are currently experiencing in Gold. Might save/make you some money if you take the time to read it.
 
"We are concerned that gold is vulnerable to a nasty correction. After all we consider the metal to be $100 to $150/oz above near term fundamental value," said John Reade, head of metals strategy at UBS Investment Bank.

"But this may not matter in the near term following a decisive break of the previous all-time high. Accordingly, we raise our short-term forecasts for gold and now see the metal at $900/oz in one month," he said in a client note.

UBS had predicted it to hover around $750 in the short run.


what on earth is "near term fundamental value"

typical bullshit from brokers who sold out their postions $150 dollars ago....
 
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