No problem.
I could go on and on about this subject but will end with this - I also own silver eagles at a 1-1 ratio to my gold and mucho lead as well.
sorry for the jack OP
gold's H&S top
- Thread starter Wallace
- Start date
No problem.
I could go on and on about this subject but will end with this - I also own silver eagles at a 1-1 ratio to my gold and mucho lead as well.
sorry for the jack OP
Ha! OT? Couldn't be more than ten of us gold bugs on the whole board! But appropos of the OP, today's chart doen't look very H&Sish. Thanks, Wallace, for starting the discussion. Maybe we should take turns.
Some added T/A to H/S pattern
I cannot resist the urge to post something unutterably stupid. If we were talking about a commodity with purely USD pricing influence, like the asking price of whores lounging around on the street outside the CME, I would buy the use TA. But gold depends on the price of the dollar, the Euro, central bank purchases, central bank sales, production, dowry purchases in the Third World, production, ad infinitum ad nauseam quod erat demonstrandum. So I have to say TA doesn't apply to gold. Other than the minimalist TA I use.
LOL, could not resist to edit your post.
You have to trade how you believe. I have found what works for one may not work for others. For me T/A works in all markets. A chart is a chart and we can pull the name from the chart it does not matter there all the same
Slim
Chart gold in dollars. Chart gold in Euros. Those two charts today tell you little about gold because they don't agree. Right now the gold charts are telling you about the dollar relative to the Euro.
I agree and do chart in both. Regardless T/A works for me
In a minor crisis, you would be lucky to even have access to the GLD paper, let alone be able to withdraw the cash once converted. Today I can sell my physical holdings and have cash in my hand within hours at a reasonable spread. How long would take you to get cash in your bank account if you sold GLD? 2-3 business days?
Think about it.
OK! OK! I wasn't specific. A minor crisis to me would be a major downturn in gold for whatever reason. A blowout top. A sea change at the Fed. A commodity panic. My thinking since I watch gold all day is that I want out the minute I want out, not two hours later. I totally agree with you about YOUR definition of a crisis. The fly in the ointment is how my down-the-street gold dealer defines a crisis and what pricing policy she will have. Similar issue with her in that she is going to write me a check that has to clear.