Bobsta Posted July 14, 2008 Report Share Posted July 14, 2008 Technical analysis in gold is the best way to the poorhouse. I can't help but think that the folks at MarketClub know that gold is going higher, and see it as a great opportunity to push their product. "Oooh, look how clever it is. It detected that upside-down head-and-shoulders and could've made you a fortune!" ... rather than "The market is running scared and heading quickly into gold - you don't need a £500/yr subscription to a TA trading platform to tell you this". Still, nice to see someone predicting a move to $1020 and beyond, whatever their motives. Link to comment Share on other sites More sharing options...
headmelter Posted July 14, 2008 Report Share Posted July 14, 2008 NY opening soon, anyone any predictions on the early action? Link to comment Share on other sites More sharing options...
cgnao Posted July 14, 2008 Report Share Posted July 14, 2008 NY opening soon, anyone any predictions on the early action? Usual attempt to smash it down. If so Heaven sent opportunity for the laggards who now want in. Link to comment Share on other sites More sharing options...
headmelter Posted July 14, 2008 Report Share Posted July 14, 2008 Usual attempt to smash it down. If so Heaven sent opportunity for the laggards who now want in. Was hoping that would be the reply. I've some cash that needs a new home. Link to comment Share on other sites More sharing options...
electroweak Posted July 14, 2008 Report Share Posted July 14, 2008 Why is it every time gold goes crazy I get stuck away from a computer? BTW, not meaning to be rude, but could you go and "get stuck away from a computer" for a little while longer? That was some move last week, nice to see you back (honest!) Link to comment Share on other sites More sharing options...
Tune2001 Posted July 14, 2008 Report Share Posted July 14, 2008 Usual attempt to smash it down. If so Heaven sent opportunity for the laggards who now want in. Laggards...Or people who get paid in fiat? Link to comment Share on other sites More sharing options...
bitbigt Posted July 14, 2008 Report Share Posted July 14, 2008 Technical analysis in gold is the best way to the poorhouse. I'd agree over the short-term (hours/days), but there are clear trends that emerge over months/years. That's why I invest in gold, and trade in other assets - using gold TA only to guide me towards the better buying opportunities Link to comment Share on other sites More sharing options...
headmelter Posted July 14, 2008 Report Share Posted July 14, 2008 Laggards...Or people who get paid in fiat? So that's about everyone then. Link to comment Share on other sites More sharing options...
marceau Posted July 14, 2008 Report Share Posted July 14, 2008 I'd agree over the short-term (hours/days), but there are clear trends that emerge over months/years. That's why I invest in gold, and trade in other assets - using gold TA only to guide me towards the better buying opportunities The only TA you need to use here is buying the pullbacks. Gold is trending and has a very high probability of erasing your mistakes. Just don't buy strength and wait for a pullback to support. I agree that these are unusual times, but most of the market still either hasn't spotted or accepted the danger, so gold and silver are still open to counter-intuative moves. These moves will provide some 'golden' entry opportunities. Link to comment Share on other sites More sharing options...
sossij Posted July 14, 2008 Report Share Posted July 14, 2008 Usual attempt to smash it down. If so Heaven sent opportunity for the laggards who now want in. Looks like the laggards have got left at the side of the road. Just gone $970+ Link to comment Share on other sites More sharing options...
cgnao Posted July 14, 2008 Report Share Posted July 14, 2008 Looks like the laggards have got left at the side of the road. Just gone $970+ Don't worry they'll try again. Usually next try is after the London PM fix. Link to comment Share on other sites More sharing options...
cgnao Posted July 14, 2008 Report Share Posted July 14, 2008 They are having a go now. Link to comment Share on other sites More sharing options...
Bobsta Posted July 14, 2008 Report Share Posted July 14, 2008 They are having a go now. They're either playing with us... or have run out of ammo. I suspect it's the former and wouldn't bet against a massive whack at some point this week (massive being below $950 but still above $920). Are the days of sub-$900 gold behind us? I think so. Link to comment Share on other sites More sharing options...
cgnao Posted July 14, 2008 Report Share Posted July 14, 2008 They're either playing with us... or have run out of ammo. I suspect it's the former and wouldn't bet against a massive whack at some point this week (massive being below $950 but still above $920). Are the days of sub-$900 gold behind us? I think so. This ain't no game. Link to comment Share on other sites More sharing options...
MegaMike Posted July 14, 2008 Report Share Posted July 14, 2008 Gqnao, i agree with your thoughts ref the $, however as for the £ they don't seem to be pouring money into the market, might the UK not have the hyperinflation? Mike Link to comment Share on other sites More sharing options...
cgnao Posted July 14, 2008 Report Share Posted July 14, 2008 Gqnao, i agree with your thoughts ref the $, however as for the £ they don't seem to be pouring money into the market, might the UK not have the hyperinflation? Mike They don't need to pour any more. The money is already out there. Unless interest rates climb well above the M4 money supply growth rate, there is no way to stop prices. Link to comment Share on other sites More sharing options...
THEBIGMAN Posted July 14, 2008 Report Share Posted July 14, 2008 Last orders, please Link to comment Share on other sites More sharing options...
bitbigt Posted July 14, 2008 Report Share Posted July 14, 2008 They're either playing with us... or have run out of ammo. I think the PPT has their mind elsewhere just now (Freddie and Fanny), and since their ammo is definitely running low (one analyst said "they have just one bailout left in them") they're only able to worry about F+F. As many of us have said for some time, the PPT will soon be swamped and unable to hold gold down, at which point the upside move will be truly amazing. I think we may be just at the start of that event. Link to comment Share on other sites More sharing options...
electroweak Posted July 14, 2008 Report Share Posted July 14, 2008 This ain't no game. Oh, yes it is! Link to comment Share on other sites More sharing options...
bitbigt Posted July 14, 2008 Report Share Posted July 14, 2008 Oh, yes it is! Your kids Chris? ...they're adorable Link to comment Share on other sites More sharing options...
electroweak Posted July 14, 2008 Report Share Posted July 14, 2008 Your kids Chris? ...they're adorable Nope, but wow, what a mess! Link to comment Share on other sites More sharing options...
bitbigt Posted July 14, 2008 Report Share Posted July 14, 2008 Nope, but wow, what a mess! I like the fact that the photographer hasn't told them off - they're still smiling. Great parent!!!! I wonder if the CBs are equally happy at the mess their little (w)bankers have caused? ...after all, it was they who left all the money (paint) laying around for their toddlers to splash it around everywhere!! Link to comment Share on other sites More sharing options...
gwizzie Posted July 14, 2008 Report Share Posted July 14, 2008 I like the fact that the photographer hasn't told them off - they're still smiling. Great parent!!!! I wonder if the CBs are equally happy at the mess their little (w)bankers have caused? ...after all, it was they who left all the money (paint) laying around for their toddlers to splash it around everywhere!! ach!! Nothing a good bath of thinners wont fix Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 14, 2008 Author Report Share Posted July 14, 2008 They don't need to pour any more. The money is already out there. ... Yes. And that's what some people don't get. I think the PPT has their mind elsewhere just now (Freddie and Fanny), and since their ammo is definitely running low (one analyst said "they have just one bailout left in them") they're only able to worry about F+F. As many of us have said for some time, the PPT will soon be swamped and unable to hold gold down, at which point the upside move will be truly amazing. I think we may be just at the start of that event. Yes. And also, you better have people betting on gold than e.g. on oil or food. No one needs to eat gold or put it in their gas tanks. So, yes, they will let gold run into the stratosphere. Link to comment Share on other sites More sharing options...
drbubb Posted July 14, 2008 Report Share Posted July 14, 2008 just booked - 150% profit on the latest Gold call trade - see thread Link to comment Share on other sites More sharing options...
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