Edited by ogm, 14 January 2008 - 10:06 AM.
Short some gold.
Started by
ogm
, Jan 14 2008 10:05 AM
12 replies to this topic
#1
ogm
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Posted 14 January 2008 - 10:05 AM
Oh No, NOT GOLD ! Yes. Just a few contracts.
Also short a couple gold stocks. SA and AEM.
SA is simply a joke. No revenue at all. Supposedly they own some mine, but they aren't mining it for some reason. And yet the stock is up. AEM is one of the most overpriced turds out there too.
#2
calmcookie
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Posted 14 January 2008 - 10:11 AM
Yikes ... you are a brave soul 
I wish you well, but will be surprised if the gold buying stops anytime soon.
Best to all, C.C. 
I wish you well, but will be surprised if the gold buying stops anytime soon.
Best to all, C.C.
#3
skyymaster
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Posted 14 January 2008 - 10:29 AM
Look to the $ for gold trade. I belive $ was down so Gold is going up.
People should not be afraid of their governments. Governments should be afraid of their people.
Remember this day, men, for it will be yours for all time.
Remember this day, men, for it will be yours for all time.
#4
Woody
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Posted 14 January 2008 - 10:37 AM
fwiw and you likely know.........Gold usually makes spike tops, would feel more confident with a short if on a daily bar we rocket up only to close lower on the day........I like Fib's EWave Count and it looks like we are in the process of a 5 of 3 etc. but we could extend beyond normal targets....I guess where you get short is a function of how deep your pockets are and to what extent you get short.......its the right idea I think but maybe early as others have commented.
CW
#5
CNSZ
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Posted 14 January 2008 - 10:43 AM
I do not think Gold is going to go down anytime soon, but not brave enought to add any long position. so gold is the area I would not touch for at least next few months.
JL
#6
Pabst
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Posted 14 January 2008 - 11:54 AM
Oh No, NOT GOLD ! Yes. Just a few contracts.
Also short a couple gold stocks. SA and AEM.
SA is simply a joke. No revenue at all. Supposedly they own some mine, but they aren't mining it for some reason. And yet the stock is up. AEM is one of the most overpriced turds out there too.
Thank's for the heads up. I sold some 907's and 911's.
Free market's for free men!
#7
thespookyone
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Posted 14 January 2008 - 12:17 PM
OGM-nice plays. I bought some Feb GG 40 puts this morning as well.
#8
ogm
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Posted 14 January 2008 - 12:24 PM
OGM-nice plays. I bought some Feb GG 40 puts this morning as well.
I think AEM and SA are the most vulnerable. SA.. is just pure garbage with no revenues and production. And AEM is pretty darn expensive at 60 P/E/.
Btw, ABX has some serious issues with subprime paper they are holding. I think they have about 15 bil worth or so. I'm not short it, but They might lose more money there then they will make on gold in years.
This is just a ST trade. We're near a top of the channel on futures, so I figured its worth a shot. And 60 min chart starting to look very toppy.
Plus its getting pretty crowded in gold after a big move in such a short period of time.
Edited by ogm, 14 January 2008 - 12:25 PM.
#9
thespookyone
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Posted 14 January 2008 - 01:01 PM
OGM-Nice point on ABX, I'll take another look at it. I shorted GG because of the backtest-by the way, it has a PE of 62, as well-oink.
#10
ogm
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Posted 14 January 2008 - 01:09 PM
OGM-Nice point on ABX, I'll take another look at it. I shorted GG because of the backtest-by the way, it has a PE of 62, as well-oink.
There is huge volume in ABX feb 50 puts. Right from the open.
Edited by ogm, 14 January 2008 - 01:10 PM.
