Marketsurfer's bold gold proclamation
- Thread starter marketsurfer
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Suggest staying short here..... signals confirming.
surf
surf
Quote from SethArb:
welcome back surf
do you mind me asking where you think oil and the dow
will be if this gold price target is reached in the next few weeks ?
hey seth,
thanks!
No idea. sub 600 by 4.1.2009 gold still stands, and system fired longs in DJIA today. the COT composite for euro is at an all time low.....
best, surf
The currently most active gold contract (DEC 08) just spiked over 920. Stopping you out.
There is no way he is going to admit being stopped out.
He will ignore the thread until-
A) Gold falls below 850, at which point he will be back here praising his short call.
B) Gold goes to 1000, at which point he will say he was "stopped out" at 920.
Typical MS.
If marketsurfer had a legit fundamental or technical reason to be short gold, I'd be much more impressed. But he has yet to post a single technical chart and his sole argument seems to be that he doesn't consider gold to be an alternative to fiat currency. I politely disagree.
If gold reaches a new yearly high within the next few weeks, we could see a real super spike in price. That being said, $830 is still a perfect stop for anyone who wants to participate in the upmove.
If gold reaches a new yearly high within the next few weeks, we could see a real super spike in price. That being said, $830 is still a perfect stop for anyone who wants to participate in the upmove.
The high in spot gold today was $912.30 per bloomberg.
Shorts suggestions are still in full effect from 955 and 893.
Gold sub 800 by 10.31
No changes.
best,
surf
ps: here is a decent kitco chart for those of you without access to bloomberg
http://www.kitco.com/charts/popup/au24hr3day.html
Shorts suggestions are still in full effect from 955 and 893.
Gold sub 800 by 10.31
No changes.
best,
surf
ps: here is a decent kitco chart for those of you without access to bloomberg
http://www.kitco.com/charts/popup/au24hr3day.html
Hi Western,
Thanks for the post. While I do believe gold is a relic of the past, that isnt my reasoning for suggesting shorts. Simply look at any long term chart, there is no way this surge can be sustained cyclically and a quick trip back to the 400 area of several years ago should happen over the next several years--if not sooner. This is not to mention the unwinding of large gold holdings by the super metallic funds that rule this space, like it or not. Among other factors, all very simple actually.
best,
surf
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