just another correction amigos? I can't believe how quiet it is in here with today's grade decline, no discussion? forecasts?
BSing away
Senor
Que Pasa? Gold slam for real or
Started by
senorBS
, Jul 01 2010 06:18 PM
7 replies to this topic
#2
entre
-
- Traders-Talk User
- 880 posts
Member
Posted 01 July 2010 - 09:02 PM
I don't know what to make of gold. It had to come down as no asset class can continue levitating while everything else is falling apart. The volume rose in today's decline but was not as heavy as it could have been. Part of the reason I haven't tried to bottom fish in the spx is because you usually see the strongest sectors that people see as the safe havens get taken out and shot last before you see the bottom in the overall market. There's talk about the Fed doing another quantitative easing binge but I think they want to break the gold market first.
#3
inamosa
-
- Traders-Talk User
- 1,638 posts
Patterns-based Trader and Investor in ETFs and Futures
Posted 01 July 2010 - 09:27 PM
Summer doldrums.
Normal correction anticipated.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#4
Tor
-
- Traders-Talk User
- 7,647 posts
Member
Posted 02 July 2010 - 01:24 PM
just another correction amigos? I can't believe how quiet it is in here with today's grade decline, no discussion? forecasts?
BSing away
Senor
http://www.traders-t...howtopic=120842
Says it all. Only will new highs in gold now make me the least bit interested!!
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#5
Tor
-
- Traders-Talk User
- 7,647 posts
Member
Posted 02 July 2010 - 01:26 PM
just another correction amigos? I can't believe how quiet it is in here with today's grade decline, no discussion? forecasts?
BSing away
Senor
http://www.traders-t...howtopic=120842
Says it all. Only will new highs in gold now make me the least bit interested!!
This guy made my mind up....! Sure he doesnt like to be on the other side of my trade right now heheheheheh
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#6
dougie
-
- Traders-Talk User
- 10,004 posts
Member
Posted 02 July 2010 - 02:30 PM
which guy was that Tor?
#7
senorBS
-
- TT Member+
- 11,219 posts
Member
Posted 06 July 2010 - 10:06 AM
today is even worse for gold and xau, they are down mucho with stock market up mucho - muy malo IMO
BSing away
Senor
#8
tradesurfer
-
- Traders-Talk User
- 2,960 posts
Member
Posted 06 July 2010 - 01:47 PM
there is a weekly bearish divergence between gold price and macd... gold will collapse soon along with the stock market in a deflationary spiral..
then gold will bottom out in the 600 range maybe 2012 or a year after that..
