Whoops.. bounced off 0.61 "C" target at 909 in last EW chart, now 2-day uptrend on the hourly looks like being broken.. I'm out of the market, will look to buy again in the next 24-48hrs, still bullish for the week. C could rather be the top of a new wave 1.... will wait for things to turn positive again to re-enter
Well this is certainly getting interesting. All looks very positive for the gold price over the medium term (i.e. next few months) imo though of course I'd expect short term volatility in gold, oil, USD and the Dow will be the order of the day as the varying forces compete for control. We might be about to see the beginning of the end of the USD which means the potential for all hell to break loose with both oil and gold prices.
Unfortunately I'm only in gold stocks and energy (oil and coal) stocks and don't hold physical gold or futures, so I expect these stocks will suffer quite a bit with the exodus to cash in the short term on the Dow moves.
Heavy falls in our local markets could see some very good bargains appear in the junior oil and gold producer end of the market. A physical gold holding is looking like a good idea to me at the moment though as well - mayber its time.
I'm out of the market, will look to buy again
Wonderfull to just have to give only opinion. Go back over the thread and you will find, gold is goinig to US$ 50,000 PLUS per ounce and that is conservative IMHO.
Same, I only had one contract open, but exited a little while ago.
Is forming a bit of a tail on the hourly, will wait for a break of around the 910 level and look for momentum before I will go long.
Looks like we may just get more chop tonight, getting used to that lately!
Short from yesterday afternoon and added a little more today.
I'm very curious whether the pennant in the index that Explod mentioned has been broken to the upside.. and same for its downtrend line that's been discussed
slip sliding away!!
The PPT/Manipulators/Lairs/Cheats/table of 8 controlling gentleman/whatever you wanna call them are trying to feed the Gold/Silver/Commodity Bugs the Cucumber Rumba. Ouch!!
Will be a mountain of stops to clean out $15 bucks lower.
Speculation oil is peaking and US has finished with rate cuts, IMO.Im a newbie to this but I thought in time of market uncertainity that people sold out of banks or whatever and took hold of a physical asset just like gold.
When the market was crapping in jan, gold shot up, the market is back in that time now where it's a bloodbath but gold is not going up instead it's going down.
Im a newbie to this but I thought in time of market uncertainity that people sold out of banks or whatever and took hold of a physical asset just like gold.
When the market was crapping in jan, gold shot up, the market is back in that time now where it's a bloodbath but gold is not going up instead it's going down.
I thought in time of market uncertainity that people sold out of banks or whatever and took hold of a physical asset just like gold.
what uncertainity?? Every man and his Gold fish knows how clapped out the western economies are.
Thats funny, Bernanke and US financial TV are proclaiming the odds of a recession receding, and that its all good, not that its all bad.
At the moment she's all priced in.
Really? So you see financials, home-builders, debt-based assets and consumer goods not going any lower?
Beware of trading off last months themes. Look for the surprises not the 'news' your Taxi driver knows about.
Do you think the credit crisis, dollar crisis etc are month long themes?
Everyone knew about the 1929 bust, and everyone famously called bottoms all the way down. Just because all know doesn't mean its all priced in. Bear mkts slide down a "hill of hope".
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