Marketsurfer's bold gold proclamation

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So is this all part of a replay of the 1980s and 90s...cheap gold, cheap oil, good times, big hair and a huge run-up for equities? ;-)

Of course, equities would have to get much cheaper (valuation-wise). I think the S&P's P/E was around 8 in 1982...

Quote from marketsurfer:

Gold is finished. gold will be sub 600 by 4.1.2009. The hype is over, the selling shall continue as large metallic holdings continue to be unwound. suggested shorting at 955, keep holding as the ride has just begun.

surf


http://www.elitetrader.com/vb/showthread.php?s=&threadid=5285&perpage=6&pagenumber=1127
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Quote from MKTrader:

So is this all part of a replay of the 1980s and 90s...cheap gold, cheap oil, good times, big hair and a huge run-up for equities? ;-)

Of course, equities would have to get much cheaper (valuation-wise). I think the S&P's P/E was around 8 in 1982...
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hahahaha exactly...wow our future is so sound.....
 
Quote from spersky:

Currently, I have 3 880 GC puts and 2 short Mini gold contracts.

I think we shall see soon if this thing decides to break.
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did you cover?

covered half my shorts at 864 and will reshort higher
 
I believe this could be the start of the final "c" wave in this mini-correction with 861.10 as the start. Could target 900-920 and will be shorting again at that range.
 
I agree it could continue lower (hence leaving half my position open) but still believe a possibility of rising higher before stopping at it's ultimate bottom around 800.
 
Actually, I think I will let my whole position go until the end of the week, or take 1/2 off when we hit 850. So far I am doing oretty well esentially short 360 OZ of Gold from 885.

Today is a very good day but my analysis still points that there is a higher probability of more downside which I do not wnat to miss.
 
Gold up 12 bucks in an hour target 900-920 to complete the (a)-(b)-(c) mini correction, then down we go

<img src="http://www.tradingthecharts.com/phpBB/uploads/spwaver/2008-04/gc-5-11-4088.gif">
 
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