....trade safe
Another club in the bag
Started by
merciless
, Apr 20 2013 09:02 AM
5 replies to this topic
#1
merciless
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Posted 20 April 2013 - 09:02 AM
Over the years I ve found this chart very useful when we are carving out short term bottoms with lots of volatility....like having a 1 iron in your bag gotta know when it serves its purpose. Could have been worth a few hundred k to anyone utilizing it this week ....trade safe
....trade safe
#2
PrintFaster
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Posted 20 April 2013 - 09:22 AM
merciless, I know you had a decent sized gold position, sorry about the loss.
Who would have known that bullion holders would have gotten "Cyprus'd" with an instant 15% haircut on their wealth?
That was one of the most shocking declines I've ever seen since the 1987 crash I was watching in real time on the Quotron machine while teaching at my first job.
#3
merciless
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Posted 20 April 2013 - 09:31 AM
Will be adding to my bullion positions via futures and physical over the next few weeks. The case for holding long term has never been stronger. The CBs phucked up. Instead of discouraging buyers they have initiated a run on the metals dealers. Wait till full margin hits , when the price of the futs is the physical price it will be game over and its coming sooner than most think....Trade Safe
#4
PrintFaster
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Posted 20 April 2013 - 10:01 AM
Will be adding to my bullion positions via futures and physical over the next few weeks. The case for holding long term has never been stronger. The CBs phucked up. Instead of discouraging buyers they have initiated a run on the metals dealers. Wait till full margin hits , when the price of the futs is the physical price it will be game over and its coming sooner than most think....Trade Safe
I think the technical damage was so severe that it will take many years for the price to recover.
However, I think now is a good time to trade long for a technical bounce, I bet that breakaway downside gap gets filled in the next 6 months.
Many physical holders accumulating during the 2 year consolidation period will be selling into any rallies, it will take a long time for those guys to unwind their underwater positions.
#5
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Posted 20 April 2013 - 10:10 AM
By the way, plenty of physical gold in stock everywhere at $60 over spot, not a bad premium.
For those who do not own any gold, now is a good time to pick up a few coins.
Gold Eagle Pricing
For those who do not own any gold, now is a good time to pick up a few coins.
Gold Eagle Pricing
#6
selecto
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Posted 20 April 2013 - 10:26 AM
A pessimist can draw a bear flag on the daily.
