jinbal

The technique I've been using is a simple averaging in in conjunction with a very basic moving indicator: Whenever Price is between the 50 EMA and 150 EMA I'm in a buy zone. As Price approaches 150 EMA My buy size increases. Between the 150EMA and 365 EMA is a stronger buy zone - the 365 EMA being a critical support zone for my bull market view. This is a simple old school technique to avoid buying peaks and chasing price - Of course it assumes that there is a Bull market in what you are purchasing

I'd not be surprised to see a smackdown today to coincide with the FOMC announcement. Especially as POG is at resistance and has MACD divergence - it would be quite easy to paint a chart here.

Loved the nonchalant way he said "Its just simple math"

Not difficult considering they started trading in 2008 which was slap bang in the middle of the recent downwave. If this really is the start of the next leg down that record may be in place for some time to come.

http://noir.bloomberg.com/apps/news?pid=20...qUVg&pos=11

Net asset value i believe

AKA the sanity retainer - really works

POG just hit 1000 EUR

I think you make a good point about looking at the technicals and adjusting your averaging strategy accordingly, I still have funds to transfer which I'm averaging in in a flexible way i.e. not when its looking oversold, more when it takes a big hit etc. I also find that having policy of always keeping some dry powder ready helps me stick to the wall of worry better

+1

In theory you're right its just the practice thats difficult...

POG needs to stay above 1170 long enough when NY opens to convince some shorts to bail - then you could see a nice move up - not much resistance till the previous high

Fantastic post - Thanks -

But is that really likely? - I mean Gold miners holding price whilst the metal slumps

Yes I definitely agree with getting shot of any sterling asap

Sorry - disagree with both of your observations: 1) On the daily I see strong negative MACD divergergence starting from Dec 21st 2) On the weekly - the price has run into significant resistance at the 200MA - there also looks like quite a tough resistance line at 82-83 to overcome I would say (from the chart alone) that the resistance looks tougher than the support at the mo. Cheers

An outside bar on the retest of the breakout - agree could get v. interesting.

Next time - "load your boat" !!!

It's my favourite perk of my missus's job - I can assure you they don't taste like tungsten! scoff scoff p.s. "silent" staff only sale tomorrow - first time ever that staff have access to sale stock before general population. Normally have to wait 1 full week. The sale at Harrods is a sight to behold for bargain hunters (for non electical) when you add staff discount, its worth saving for.

That lines up withthe 38.2% fib retracement from the Nov 08 low to the recent high. I's also the previous all time hight hat took 2 years to break. I think it's perfectly reasonalbe to expect a retest of this given how quickly the price action moved up in the last few months.

agreed The uptrend does seem over extended

Unless they had the foresight to "Hedge" their positions by "buying cheap Dollars"? Which I happen to think is a perfectly reasonable thing to do if you have a large position.

Of course - all the time But with no overhead resistance on the chart it's less clear where it will be - you only have round numbers and measured move objectives as a guide e.g. inverse H + S projection at $1300

Have no idea but "history rhymes" and all that..

Sounds exactly like BTL in 1996/97......... Gold will follow a similar path Im sure - from an investor psychology POV - investor psychology being one of the more consistent features of markets.