23 replies to this topic

[Psycho]

"seems to me that few believe the gold move! the short cycles are up into mid sept." you meant seems to me quite a few DONT beleive" right?

I concur. juniors are acting very well, in the past this action preceded a real drop...am i too conditioned

fwiw, this is my take as well the market gets us to learn lessons and when we learn em, it does something else. its why i remain 80-85% long even if i expect a correction. @some point this market will go vertical. and i want to be on board in a meaningful way
dharma

I am long on gold because I do not want to miss the bounce. I see small downward pressure taking place like today and some coming next week when they sell another 75 billion in t-bills but I am assured that there will be a rebound in a few days to correct what ever manipulation that takes place just like last week. I see the dollar dropping and I do not want to miss the next wave up. Of my entire portfolio I am about 40% in gold miners, 5%
natural gas and 50% in a fixed 7.5% account. Why?, because I do not know where else to go. I have been looking at other sectors and at overseas stocks but I am not informed enough to make a decision if they would be sound places to invest. After talking to different brokers, watching the spin doctors on tv and reading the forums I have decided I do not know who to trust. I keep hearing it was a profit taking day on wall street and I realize I am on the wrong end of the trade. I was not hiring the correct people to do the profit taking for me so I started managing it myself. I am ahead from my high last summer and hopefully will stay that way.

[mss]

Welcome Psycho, Seems to me you have made some right changes to your investments. Don't know about the %s but that is a personal choice. Just how far west in TN. are you? Just interested. mss

[Psycho]

Welcome Psycho,
Seems to me you have made some right changes to your investments. Don't know about the %s but that is a personal choice.

Just how far west in TN. are you?

Just interested.

mss

I am right on the Tn River, about half way up. Specifically, Camden. I forgot to mention I am also about 5% in cash so I can buy bargins when I see them. I did not start out so heavy in gold, I've just made alot of money on it since OCT. I know I should skim the profits off the top and play with the houses money but I am unsure where to go with it. I am not a trader at all. I am just one of the many who pass thru here each day looking to see what the people in the know are saying about gold. I think there is a big drop coming in the stock market this fall like last and I hope it is after the seasonal increase in gold so maybe I will already be on the side. If we get a seasonal increase. If the dollar continues to drop. If gold continues to be a safe haven. Lots of ifs. I know there has been a bounce in the market but it is too early in the year for the hedge funds to look at taking yearly profits and everyone seems to be letting it ride. It does not matter if your betting black or red I think the house wins. I just have to get out before the last ball drops. I think all these ARM loans coming forward this fall will be the most important factor in timing the drop. Just like the subprime loans last fall there are a mountain of these arm loans that the bankers will have to deal with and since the goverment and the bankers are joined at the hip I think the goverment will be unable to hold off a massive rush away from the dollar. Lots of people are out of work in this area. Well above double digit unemployement since last fall. I think it gonna be a long cold winter.

[inamosa]

As primarily a weekly to monthly trader, I've been bullish of late and continue to be (see http://www.traders-t...howtopic=109417 )

I think a breakout will come between now and end of Nov (ideally either this month or in Nov) and any corrections between now and the breakout should be mild

This looks like it's going to be a massive breakout

We have a very rare quadruple top (i.e. 4 swing highs all at or near $1K) - and as Gann noted, these almost always break up, and tend to form powerful breakouts

Edited by alysomji, 05 August 2009 - 08:48 PM.

[dharma]

"seems to me that few believe the gold move! the short cycles are up into mid sept." you meant seems to me quite a few DONT beleive" right?

I concur. juniors are acting very well, in the past this action preceded a real drop...am i too conditioned

fwiw, this is my take as well the market gets us to learn lessons and when we learn em, it does something else. its why i remain 80-85% long even if i expect a correction. @some point this market will go vertical. and i want to be on board in a meaningful way
dharma

I am long on gold because I do not want to miss the bounce. I see small downward pressure taking place like today and some coming next week when they sell another 75 billion in t-bills but I am assured that there will be a rebound in a few days to correct what ever manipulation that takes place just like last week. I see the dollar dropping and I do not want to miss the next wave up. Of my entire portfolio I am about 40% in gold miners, 5%
natural gas and 50% in a fixed 7.5% account. Why?, because I do not know where else to go. I have been looking at other sectors and at overseas stocks but I am not informed enough to make a decision if they would be sound places to invest. After talking to different brokers, watching the spin doctors on tv and reading the forums I have decided I do not know who to trust. I keep hearing it was a profit taking day on wall street and I realize I am on the wrong end of the trade. I was not hiring the correct people to do the profit taking for me so I started managing it myself. I am ahead from my high last summer and hopefully will stay that way.

knowing not to trust anyone is a 1st major step. now get an education. dharma

[no_mind]

50% in a fixed 7.5% account

Psycho,

May I ask what kind of account offers 7.5%?

Best,
Tom

[Psycho]

50% in a fixed 7.5% account

Psycho,

May I ask what kind of account offers 7.5%?

Best,
Tom

It is an annunity fund thru the GOV. (employer).

[dharma]

putting up a daily chart of gold it is clear that gold appears to be in a triangle or pennant formation . w/d just completing @these last highs i look for a pullback here. and then a move to new highs. dharma

[senorBS]

putting up a daily chart of gold it is clear that gold appears to be in a triangle or pennant formation . w/d just completing @these last highs i look for a pullback here. and then a move to new highs.
dharma

Put a fork in this gold pig because it is finito, down we go.

BSing away

Senor

[goldswinger]

Well done it is, the meat falls off the bone..... $USD starting its C wave up..... Short OIL ETF and GOLD ETF. or rather long the inverse of the bullish ETF. Good luck Senor. GS.