I am short gold

[Ham001]

Short Gold up here at 1890, happy to be proven wrong (stops in 1896.8 - just above latest high) - this is top picking at its finest, but I believe limited upside risk from here.

If it goes higher I will be looking for a new entry short.

Cheers,
H

 

[Larson]

Quote from S2007S:

Gold is going to fall hard soon, what took weeks to gain will be lost in hours soon. I do think gold does get above 2000, rallies a few more times and then sells off extremely hard, I think you wait until the end of the week to start putting on shorts, wait to see what BUBBLE ben bernanke is going to say, if anything add some short positions around 2000 and get ready to add more a little higher, patience will pay off once gold drops back below 1500! The trade is EXTREMELY crowded at this point, I went to a mall a couple of weeks ago and saw kiosks buying gold from people!

I don't know S, this is an entirely different market now for gold, and would not be surprised to see a currency crisis before a meaningful fall occurs in gold. There is a lot of instability under the surface.

 

[noone3]

Anyone expects a move like SLV did in April-May?
I know it happened due to new marning requirements...but so what? Another (or same) reason might correct gold drastically?
Speculating...

 

[noddyboy]

Quote from noone3:

Anyone expects a move like SLV did in April-May?
I know it happened due to new marning requirements...but so what? Another (or same) reason might correct gold drastically?
Speculating...

Unlikely...people are watching out now...

 

[billsafari]

Its going to be a great short but right now there is nothing out there to suggest gold will go down. Fear trumps all technicals. Gold can easliy hit 2000 to 2500.

I'll be there to short when someone yells "fire" and they all head for the door. But right now isnt the time.

 

[C6H12O6]

Quote from noddyboy:

Why?

Because Greenspan has just said it's not in a bubble: sell sell sell
http://www.bloomberg.com/news/2011-...o-is-breaking-down-may-harm-stock-prices.html

he also said the Euro Is "Breaking Down", so good news for the Euro as well

 

[efficiency]

Crowded as it may be, as extended as it may be, it can go higher.


To paraphrase Orson Welles. "no wine before its time"

 

[noddyboy]

Quote from C6H12O6:

Because Greenspan has just said it's not in a bubble: sell sell sell
http://www.bloomberg.com/news/2011-...o-is-breaking-down-may-harm-stock-prices.html

he also said the Euro Is "Breaking Down", so good news for the Euro as well

Interesting...thanks. It does look over-extended, but are you concerned that there are so many other top callers too?

 

[econometrics]

btw, can someone give a couple of basic logic/story as to why silver has outperformed gold by such a margin even after the crash.

 

[efficiency]

Quote from econometrics:

btw, can someone give a couple of basic logic/story as to why silver has outperformed gold by such a margin even after the crash.

Simple, central bank intervention. They won't touch silver. Greedy excitiable little munchkins will. Particularly at a much lower price level per oz.

Silver also has industrial applications. Far better conductor of electricity than copper (faster and doesn't oxidize) but cost prohibitive.