32 replies to this topic

[inamosa]

Yes, you're right COT is only one component of the whole picture - but I thought I'd mention my agreement with Senor re: interpretation of the COT data

[Psycho]

My biggest problem is I am blind to opposite opinions. I read articles by gold bears like Nadler. BUT, I tend to skim thru the articles and just hit the high spots. I am long on gold and truly think the gov/fed and the too big to fail banks have truly set us down a road to a currency crash. It may take years for this to take place due to a series of events or one big economic crash like last fall but I fell it is a gone too far to be avoided. Anyway, I tend to read and reread supporting opinions. With all the big banks and speculators and even gov's trying to force gold down it make me wonder "Should I take my marbles and go home"? It is like Johnny Keyes said in a song "A scared man can't gamble and a jealous man can't work". Last fall I was too scared not to gamble because I had lost so much and I felt I had nothing else to loose, well little left, now that I am in the black I could do like Cramer says and skim off 10% as it rises and eventually play with only thier money. I'e seem at all the charts and trends of how things should develop historically over the next two months. The problem is I do not know who is messing with the system. That lack of knowledge/information keeps me from knowing if I have rolled the dice one too many times.

[dharma]

although the cycle i follow tops on the 18th , it looks to me like it finished today. after today , i have 1 trading position left and it will be coming off soon. i look for a good correction over the next coming weeks dharma

[JGUITARSLIM]

although the cycle i follow tops on the 18th , it looks to me like it finished today. after today , i have 1 trading position left and it will be coming off soon.
i look for a good correction over the next coming weeks
dharma

Good call many weeks back calling for this rally.
Currently about 80% long from lower levels, and if weakness develops will continue to add.
Opting to not trade this bull...holding strong.

Edited by JGUITARSLIM, 15 September 2009 - 06:55 AM.

[dharma]

although the cycle i follow tops on the 18th , it looks to me like it finished today. after today , i have 1 trading position left and it will be coming off soon.
i look for a good correction over the next coming weeks
dharma

Good call many weeks back calling for this rally.
Currently about 80% long from lower levels, and if weakness develops will continue to add.
Opting to not trade this bull...holding strong.

thanks! my account noticed also i am removing positions slowly, we are in what appears to be a topping pattern. scaling back to core positions. i do think this will be a 15-20% correction. so the boys will get long. so , have some powder dry. those juniors you missed will give us another shot @lower prices. now is when patience comes into play
dharma

[dharma]

still holding on! oh by the way the largest cot short position was when gold crossed 400 in 79, those guys became bull fodder dharma

[dharma]

divergences now gone! we are in a run! dharma

[dharma]

there is a possibility that we topped last night, this am. i had the cycle topping tomorrow. however, i am not going to argue w/the market . scaled back trading positions. thank you mr. market. i think where ever this bottom occurs in oct/nov it will be a back the truck up event. dharma

[dougie]

i am scaling back too dharma but seeing some continuing strength here

[johngeorge]

Sold all my positions yesterday. Watchful waiting mode to go short. Then.........come the correction, as dharma says, I back up the truck.