Marketsurfer's bold gold proclamation

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surf ...

I do not think your prediction will come true however

gold so far this yr is not showing much "
oomph"

perhaps it gained to much relative to other
things last yr and will underperform other asset classes

in 2009

:cool:
 
Quote from SethArb:

...


gold so far this yr is not showing much "
oomph"

perhaps it gained to much relative to other
things last yr and will underperform other asset classes

in 2009

:cool:
More...

IMO, the end of year gold rally, on light volume btw, was most likely window dressing by funds who wanted their year end statements to show they owned one of the only assets that didn't end 2008 in the red. That would also explain the divergence on the daily chart of MACD and CCI.

Now, with the dollar still performing, there are no real buyers of gold. I don't know about the 4/1/09 date but I think $600 is inevitable and maybe even $550 before it bottoms.
 
Quote from erblackiv:

Nice trade. Good rising wedge with histo divergence. I'm waiting for full MACD divergence at a higher level indicating an IT top. Not looking good right now, but I've learned to wait or pass.....

Very nice trade.
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TY & TY Surf! But 1/3 remains open.

And a Happy New Year to you 2!
 
I re-entered my shorts yesterday. I have many long puts in Gold futures. Heavy long DZZ (ultra short Gold ETF), and naked a few 900 GC calls

If we hit 600 on GC anytime in the next 4-5 month. I will make out pretty good.

Btw, I am not baseing my trade on Marker Surfers prediction. I base it on fundamentals and the down trend in Gold, and in metals. Plus I expect a deflationary spiral before we get inflation. Furthermore, the common public is bullish on Gold so that alone is the best indicator that Gold should go down.

Good Luck
 
Silver is about to start heading lower, at support right now over a triple divergence also on its Daily chart, huge shorting going on according to COTs
 
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