I like GLD at this level

victorycountry said:
I don't know how you work out the probability but incorporatong fundamental info, it's going down even more than your TA suggests
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I understand your point but I do not trust TA that much or at least TA is not the only decision making factor for me. Gut feeling, TA, Fundamentals, probability, .... all together make my decision. I do not want to open my eyes when GLD is at 210 and say " Oh it seems that GLD is going up because chart is showing that". All things said, you make some and you lose some. It does not mean that for 100% I will make money on GLD but in this market, it is a good hedge specially I am not that optimistic on how things will pan out after Jan 20.
 
hajimow said:
It does not mean that GLD will not go down. It means that I believe even if it goes down, it will drop less than stocks. Just check it today. Compare it with HD, AMZN, ADI,.....
Basically I mean it is safer with a high possibility of bouncing back.
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Did you mean gold next week still continue bullish?
Indeed I have seen on last week this commodity on bearish candle but lower candle still higher than lower low previous candle
 
hajimow said:
Everyone is bearish on gold and GLD has been beaten heavily in the last couple of months and in 2016. It seems bearish sentiment too obvious on GLD. Based on sure chaos that will be created after Jan 20th and overvalued stock market, I believe it makes sense to be unorthodox and nibble into GLD. You might not hit a jackpot in the near future but it is safe/wise diversification specially in the current situation and time frame.
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I like GLD at this level, too, but then I like GLD at almost any level.
 
hajimow said:
Everyone is bearish on gold and GLD has been beaten heavily in the last couple of months and in 2016. It seems bearish sentiment too obvious on GLD. Based on sure chaos that will be created after Jan 20th and overvalued stock market, I believe it makes sense to be unorthodox and nibble into GLD. You might not hit a jackpot in the near future but it is safe/wise diversification specially in the current situation and time frame.
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I agree on the whole, but I think the USD had more room to go up, especially with trump, thus gold will be under pressure. I'm gonna buy when it goes below $1000 an oz
 
Gold is now in another bearish position, especially after last session's close. It bounced off of an overhead resistance area, closed near the low and did so with great ease of movement. Good time to get short.
 
Money Trust said:
Gold is now in another bearish position, especially after last session's close. It bounced off of an overhead resistance area, closed near the low and did so with great ease of movement. Good time to get short.
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Yes, the spike high open on 12/30 was the gift for underwater longs to get out at decent prices, especially in GDX. Comparing GLD/GDX at this point from a year ago is that many, many longs got onboard in 2016 believing it was set to make a move akin to a decade ago. In late 2015, GLD has been in a prolonged move lower (longs already liquidated over that time span).
 
Unless I see 5000 Caterpillars and tons of trucks 10 days after inauguration at the boarder working on the wall, I would be bullish on GOLD. If we only get only those 3AM tweets, they will cause worldwide chaos and troubles. They should start building it 10 days after inauguration as it is a big project and should be finished in less than 4 years as Trump has promised to build it. Not a regular ugly tall cement wall, it should be "huge" and beautiful and every month a check should be sent by Mexican government to fund it :p:confused:
 
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