Benall

So re-emphasises to me to just dollar cost average. Wish I had (bet I bought most at the 2006 peak!). Simple really and saves a lot of time trying to do TA on something too volatile, manipulated, etc. I was just in too much of a hurry to get in. Now I'm in, I can slow down my accumulation. BTW, I find things very different when your core holding is in gold and it becomes your reference point. Oh look fiat GBP is down against gold. Oh look, fiat USD is up against gold. Etc, etc. I basing this on the comment that the long-term cost of things do not change much in relation to gold. The "fiats" are all bouncing around off each other but are all on the same bus going off the cliff. Gold is the currency for me. The rest is noise.

James Turk over at Goldmoney has been predicting a USD crisis. Well he would wouldn't he. But he is probably right. The tide's come rushing in and will receed. Probably next year, but given the pace of things....

There most certainly are.

Oh yes, many times.

Very good. Thinking the same. - you've been reading my mail?! I have done well on my similar predictions but poor on timing (e.g. thought they would happen sooner). Not good with the time decay but then some of the swings have been so large I've covered (e.g. GBP:USD put warrant up 500%). Maybe a double bottom for gold. It's a time what with all this volatilty (e.g. in gold and GBP and inflation) to be clear about what is used to measure the value of things (I'm sticking with gold as my unit of measure).

Gold goes up, gold goes down. Mostly it goes up. Simple really.

Cheer up. You should see my energy porfolio plummet from profit to loss! At least gold is (better than) money.

Good stuff!

Yes, seconded. It's great to get insights into others approaches and learnings. It's taken me a while but I've adopted a similar approach and it feels right. I have trading and investing (and other) funds with appropriate allocations to both. I still haven't mastered the stops but I have mastered taking an intermediate view (that's where the experienced traders say they make their best money). Even an underwater position with some sound fundamental reasoning behind it usually rights itself with sufficient time. That's where reviewing your trading performance (e.g. at tax return time) is a great education - that feedback loop has taught me a lot of discipline.

Fair comments. I forgot about that 200 day thingy. While triangles generally have been performing well of late (for gold and others), something is telling me to be careful - that there may be more of a correction in commodities and PMs. That said, I've learnt not to trade PMs but to accumulate on dips so have been buying quite happy should the price fall to the 820-850 area. The risk/reward looks promising. I would hate to be out of funds at lower levels though.

Careful of what? Isn't that a bullish triangle formation with long-term resistance at $860?

Er no, my thoughts exactly. Love them triangles. Been working very well of late across a number of securities.

Nice looking chart pattern (they seem to be working better these days) and the daily (if not weekly) MACD looks good. Many thanks indeed for the pointers. It's been hard for an ETF focussed guy like me to create a position in the junior sector. But I have (c.15). Taken a few losses but am bullish given here and what Jim Puplava and co have been saying (BTW just read a short Money Week daily article pointing to a similar "big fish buys little fish" dynamic in the Pharma/Biotach sector).