Shocking, I know.
I am fearful the Congress might sober up and attempt to pair the fed debt. I know, it is likely just my insanity acting up, but it could happen. Seasonality (selling) will come into play in Dec and might start early. The slow down in housing speculation may take the edge off the personal debt growth and slow the fed. (this could be a plus for gold) Finally, a radical economic slow down is in the cards due to the energy cost effects of the last six months. (a recession in Q2 2006 is not out of reason). All of these things say to be careful of gold right now. I am holding some long term positions like TGLDX, but I am not playing with the juniors until some of the uncertainty is reduced. AS for silver I remember the Hunt Brothers. Islander.
The trouble with gold is
Started by
Islander
, Oct 30 2005 08:03 PM
2 replies to this topic
#1
Posted 30 October 2005 - 08:03 PM
#2
Posted 04 November 2005 - 08:09 PM
Bah, Humbug! I'm sick of watching gold. (So now it's free to take off on the big move without me.)
The Head & Shoulders top looks like too much for me to mess with, right now, and I'm just gonna wait for a bottom later on. No crystal ball, just like always, but the US Dollar Index getting to 94 or 99 would be good places to look for a gold bottom. IMO, naturally.
Doug
#3
Posted 07 November 2005 - 02:58 PM
This chart sums up the anxiety surrounding gold. I think gold tracks higher but the shares underperform until we have a good test of the lower rail here. Whenever that occurs. But looking at the gold tea leaves, I think there will be an important low next month for the miners. Meanwhile we bounce higher this week.
cheers,
john
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain