I am in no way defending marketsurfer. He is not a trader, never was, never will be and his "analyst" skills, along with his calls, are pretty bad. But $1000 on gold is a key price point and contrary to what you say, $1000 does matter. There is heavy shorting at that level, as well as longs getting out from shorter term trades. It is a key price level.
Marketsurfer's bold gold proclamation
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I am in no way defending marketsurfer. He is not a trader, never was, never will be and his "analyst" skills, along with his calls, are pretty bad. But $1000 on gold is a key price point and contrary to what you say, $1000 does matter. There is heavy shorting at that level, as well as longs getting out from shorter term trades. It is a key price level.
Yeah...the 2nd one is real close. Let's do some simple math:
Gold is trading 990.00
1000-990 = 10 from stop
990-600 = 390 from profit goal
You are really nailing this one. This ridiculous guess is not even remotely close. You are still way in the red with your 2nd call/guess.
Give up Surf.
Well, I believe this will be one of the greatest message board calls of all time. Who knows how many bad calls Elaine Garzarelli made before she called the top in '87. I fully expect to see surf on financial TV shows and quoted in the WSJ after gold tanks based on this message board prediction. Good job, chief. Don't let the haters drag you down!
Was it over when the Germans bombed Pearl Harbor?
Seriously I am amazed at this call so far. Everyone said gold would break 1000 except mr surf. Gold failed to break 1000 as predicted by mr surf. I will not be surprised if 600 is hit in the future.
He may be right with this call reaching historical status along with gann gazzerelli and Livermore. Hats off to you sir!
He may be right with this call reaching historical status along with gann gazzerelli and Livermore. Hats off to you sir!
Surf, this call will go down in history alright, but not for its brilliance, but for its stupidity. Even if you were to be right, if what we are seeing at the moment is indeed a headfake move out of the pennant (it's a technical term, which describes a certain type of price action behaviour) it is very likely for price to at least touch $1000, which would negate your call. Remember CROX?
If spot doesn't reach $1000 today, then it is very likely futures to be, at least, spoofed in AH before COMEX open come Monday (haven't checked holiday schedule yet)
As I said before, good luck & lots of
If spot doesn't reach $1000 today, then it is very likely futures to be, at least, spoofed in AH before COMEX open come Monday (haven't checked holiday schedule yet)
As I said before, good luck & lots of
On various other threads, surf is flamed because his stops are <i>too wide</i>. Here, with gold at $994, his stop is only $6 away and he has a big potential gain. Isn't that what everyone keeps telling him to do? As my Grandfather used to say, "so what do you want, egg in your beer?"
Excuse me. 1000 is your stop loss exit. It is NOT your entry point.
Another 25% loss for you. What a total clown to brag it hasn't hit your stop loss yet.
Guaranteed gold tops 1000. Then we'll hear "i'm not embarassed [sic], I took a shot and lost (again), big deal." see WFC link.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2415760&highlight=took+a+shot#post2415760
$6 stop? He's been calling 600 b4 1000 for a while now, I don't want to misquote him, perhaps since it was $800.
Secondly, he is not being flamed for his stop level, but because he subscribes to a belief of 'won't happen', which has nothing to do with reality of trading/investing. It's exactly because anything is possible we use stops. What if it hits $1001 & then goes down to $600? That would make a good research worthless.
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