Marketsurfer's bold gold proclamation

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Quote from sprstpd:
Whatever. If you believe that so much, why ever go long gold? Hypocritical.
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I don't think it's hypocritical to go long something that you think is a piece of shit. If the charts tell you to go long, you go long. That's what traders do, isn't it?? You're personal feelings about the instrument in question are irrelevant.

Plenty of money was made going long pieces of shit during the tech bubble.
 
Saying you are an idiot for holding gold through the recent downturn and then saying gold is a piece of sh*t and *always* has been sh*t and then saying oh but wait I want to get long at 1030 is hypocritical. In fact, it is probably a shining example of being hypocritical.

I know that is what a good trader does but that is not what this poster is actually talking about. He is talking about gold being a complete farce. There are many reasons why Dr. Z is completely wrong.
 
Quote from traderNik:

I don't think it's hypocritical to go long something that you think is a piece of shit. If the charts tell you to go long, you go long. That's what traders do, isn't it?? You're personal feelings about the instrument in question are irrelevant.

Plenty of money was made going long pieces of shit during the tech bubble.
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great post
 
Surf,

It's time to concede this one. Whatever gold does in the next six weeks, it's not going drop $400.

I've watched your on line calls long enough to know that there's at least a nugget of insight in all of your calls--just sometimes you have to be proven wrong first before the cylinders fall in place and you're proven right. When there's future to invest in again--gold will fall to, or below, commodity value.

It will be one of table top universal assemblers first goals--if only to claim the 1000 year prize of Masters of Alchemy.

Here's to the future. --erbiv
 
Quote from erblackiv:

Surf,

It's time to concede this one. Whatever gold does in the next six weeks, it's not going drop $400.

I've watched your on line calls long enough to know that there's at least a nugget of insight in all of your calls--just sometimes you have to be proven wrong first before the cylinders fall in place and you're proven right. When there's future to invest in again--gold will fall to, or below, commodity value.

It will be one of table top universal assemblers first goals--if only to claim the 1000 year prize of Masters of Alchemy.

Here's to the future. --erbiv
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To his credit, he did call the 20-30% short term decline. Had he traded it, he could've banked the decline and cut his losses and still pocketed a profit.
 
It was TOTAL BULLSHIT! Always was.

They'd have to COMPLETELY TANK THE GLOBAL ECONOMY to push gold below $690, and they KNOW it.

That would be the only way to get it there. Total depression. No cash anywhere. All printing plates broken.

Still long and no regrets, here.

"Paper is poverty" - Thomas Jefferson
 
Quote from sprstpd:
Saying you are an idiot for holding gold through the recent downturn and then saying gold is a piece of sh*t and *always* has been sh*t and then saying oh but wait I want to get long at 1030 is hypocritical. In fact, it is probably a shining example of being hypocritical.
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Please explain why it's hypocritical. Doesn't necessarily sound hypocritical to me. The trader might mean that, purely from a trading perspective, long positions should have been exited given the retracement gold went through, and a close above 1030 would be extremely bullish and indicate another long entry. William O'Neill would agree, and he wasn't bad.

Of course, you may say that you disagree with the assessment, but there's nothing here that's 'hypocritical'.

By the way, I totally agree that surf should come on here and admit that he blew this call (if he hasn't already, I didn't read the whole thread). He's also in danger of blowing his 'The Bottom Is In' call for the overall markets. He has denigrated the trading style of others quite a bit on here. Now's the time to admit that his methods aren't any better than mine.
 
surf made a bold call. quite entertaining to me especially
since the market dropped further than i'd believe it would.

that is what trading boards are about. surf rocks.
 
Quote from traderNik:

Please explain why it's hypocritical. Doesn't necessarily sound hypocritical to me.
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It is hypocritical because by the time he goes long gold, the market has already shown his statement:

Quote from Dr. Zhivodka:

Gold is a piece of sh*t...always has been always will be.
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is false.

Yes, he might be a good trader for going long at that point, but then he contradicts his core assertion about gold.

This is just another way of saying that anyone who says that quote above doesn't have any concept of the historical value of gold.
 
if gold is a piece of shit, it is at least an expensive piece
of shit. but ... actually there is a lot of expensive shit
out there ...
 
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