Do it again- Go big or go home- and thank me in two weeks. Current spot price: $1146.60. Official RM prediction.
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Marc Faber, Dollar Will Eventually Go to Value of Zero, Oct 26, 2009
- Thread starter WallStWhizKid
- Start date
Do it again- Go big or go home- and thank me in two weeks. Current spot price: $1146.60. Official RM prediction.
Quote from Rearden Metal:
Do it again- Go big or go home- and thank me in two weeks. Current spot price: $1146.60. Official RM prediction.
I`m long GLD from 111.90. My algos firing buys across all my frames since pre mkt. Not that it means anything to you. But i`m in agreement. Looking at 119.18 target. 106.47 i`m stopped.
Quote from indahook:
I`m long GLD from 111.90. My algos firing buys across all my frames since pre mkt. Not that it means anything to you. But i`m in agreement. Looking at 119.18 target. 106.47 i`m stopped.
Right about here looks interesting, depending on the first 30 minutes to an hour on 12/11
Quote from Rearden Metal:
Do it again- Go big or go home- and thank me in two weeks. Current spot price: $1146.60. Official RM prediction.
RM, still bullish on gold? Also bearish on the dollar?
And by implication, bullish on equities?
I am thinking this correction is something bigger. The anti-dollar trade is over now. And gold was heavily bought by people wanting to be short the dollar. So it might take a while before gold bottoms.
Now 1117, the Feb future.
I don't like gold here... I LOVE it... just bought more.
Absolute worst case scenario is that it goes sideways for the rest of the month.
Absolute worst case scenario is that it goes sideways for the rest of the month.
If gold hits $1000, I will double my physical holdings.
Quote from Rearden Metal:
I don't like gold here... I LOVE it... just bought more.
Absolute worst case scenario is that it goes sideways for the rest of the month.
Ok. That must also mean the dollar to stop strengthening right here.
What's your risk/reward? Since gold has been down $30+, you must be looking for a move back to the highs, at least?
Not worried about this chart? Record-high spec longs, even after the worst crash (Dec 8).
http://snalaska.net/cot/current/charts/GC.png
Quote from moo:
Ok. That must also mean the dollar to stop strengthening right here.
What's your risk/reward? Since gold has been down $30+, you must be looking for a move back to the highs, at least?
Not worried about this chart? Record-high spec longs, even after the worst crash (Dec 8).
http://snalaska.net/cot/current/charts/GC.png
The spec long positions don't really worry me, as the same thing was going on <i>before</i> the big breakout two months ago. Think 1999 tech stocks- Everyone's bullish, yet the orgasm spike top in gold is still about to occur. The top in this decade-long bull market may be near in <i>time</i> (probably within 18 months tops), but not in <i>price</i>.
The only thing that worries me about the gold chart right now is that we might move sideways for a few weeks, and I'll look stupid on my "thank me in two weeks" call when I should have said two months.
As for risk/reward, you know I'm a play it by ear/gut feel/INTP kind of of trader. My options are always open. That's not an evasion- I just don't yet know how and where I'll be scaling out of this one.