Which way? A Gold Timing exercise
- Thread starter themickey
- Start date
Just because you're paranoid about Gold, doesn't mean it's not out to get you.
As soon as we've dealt with Russia, watch POS gold go to hell in a handbasket.
Just because you're paranoid about Gold, doesn't mean it's not out to get you.
As long as Gold is closing above $1920 it still has a chance to head up to $2000 soon. The miners themselves are behaving ok except ones with poor earnings reports or operational disruptions. If broader markets remain solid I'd rather be in Copper and Silver miners.
Gold stocks continue to display bullishness, i'm still holding a good half dozen gold penny stocks.
In Australia lithium continues to perform well, also uranium.
Gold behaving normally, the cash fell $2 short of previous highs and now it's going into a pullback.
I think many goldbulls thought it was going to roar on upward through resistance, however gold doesn't like playing a predictable game.
My call, price may fall back to the 1900 level, the stronger the Nasdaq, S&P500 etc is, the more likely this will happen.
It just so happens because the general stock market is being hammered atm, possibly bottoming or near bottom, there is increased volatilitiy and this will flow through into gold.
I find at market tops and bottoms, with increased levels of volatility, often TA rules get thrown out the window, it is nigh on impossible to make accurate calls.
The Ukraine fighting is having an effect on where we are bullishly or bearishly, especially though the European markets and that is in a state of flux atm.
So, I can't determine just what gold is going to do.
My thinking, gold will pull back some more atm as having a breather.
If Ukraine war drags out, gold will make another tilt at getting through 2080.
Much of what gold will do hinges on Ukraine imo, Ruskies are going broke, China may hit struggle street too sometime, these things will make gold stronger.
I've sold the majority of my gold holdings, just holding some pennies, but I have drawn up a list of best gold stock contenders, about a dozen stocks, I will re-enter if 2080 is penetrated but mindful a breakthough could be a dummy, gold loves dummy moves.
I think many goldbulls thought it was going to roar on upward through resistance, however gold doesn't like playing a predictable game.
My call, price may fall back to the 1900 level, the stronger the Nasdaq, S&P500 etc is, the more likely this will happen.
It just so happens because the general stock market is being hammered atm, possibly bottoming or near bottom, there is increased volatilitiy and this will flow through into gold.
I find at market tops and bottoms, with increased levels of volatility, often TA rules get thrown out the window, it is nigh on impossible to make accurate calls.
The Ukraine fighting is having an effect on where we are bullishly or bearishly, especially though the European markets and that is in a state of flux atm.
So, I can't determine just what gold is going to do.
My thinking, gold will pull back some more atm as having a breather.
If Ukraine war drags out, gold will make another tilt at getting through 2080.
Much of what gold will do hinges on Ukraine imo, Ruskies are going broke, China may hit struggle street too sometime, these things will make gold stronger.
I've sold the majority of my gold holdings, just holding some pennies, but I have drawn up a list of best gold stock contenders, about a dozen stocks, I will re-enter if 2080 is penetrated but mindful a breakthough could be a dummy, gold loves dummy moves.
Gold behaving normally, the cash fell $2 short of previous highs and now it's going into a pullback.
I think many goldbulls thought it was going to roar on upward through resistance, however gold doesn't like playing a predictable game.
My call, price may fall back to the 1900 level, the stronger the Nasdaq, S&P500 etc is, the more likely this will happen.
It just so happens because the general stock market is being hammered atm, possibly bottoming or near bottom, there is increased volatilitiy and this will flow through into gold.
I find at market tops and bottoms, with increased levels of volatility, often TA rules get thrown out the window, it is nigh on impossible to make accurate calls.
The Ukraine fighting is having an effect on where we are bullishly or bearishly, especially though the European markets and that is in a state of flux atm.
So, I can't determine just what gold is going to do.
My thinking, gold will pull back some more atm as having a breather.
If Ukraine war drags out, gold will make another tilt at getting through 2080.
Much of what gold will do hinges on Ukraine imo, Ruskies are going broke, China may hit struggle street too sometime, these things will make gold stronger.
I've sold the majority of my gold holdings, just holding some pennies, but I have drawn up a list of best gold stock contenders, about a dozen stocks, I will re-enter if 2080 is penetrated but mindful a breakthough could be a dummy, gold loves dummy moves.
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I am sitting on 500 shares of RING (gold miners stock ETF). I was waiting for gold to hit about $2,100.-$2,200. then do a covered call on them. I am still waiting...
CPI number prob restarts the Gold/Silver rally, but I used some mid day strength to sell all but one of my positions ( still in Fortuna ). I'd rather jump in on confirmed news and want to sit on some Cash ( 33% of my account) into tomorrow. Was glad to get out at decent prices given how brutal Gold/Silver looked premarket.
Update:
Gold broke out sooner then I expected.
Buy signal was the gap up week of 14-Feb.
Did the chart pattern predict war? What do you think?
Short term -I am looking for a correction to ~1950 area.