stocks reverse and begin to go positive! XAU now down .82 and HUI 2.38 (11 points off the day's low!) - on a day when gold and silver get the grande hammer job and make new lows! Some LOCO hombre this morning asked me "WHY" I was buying? The anwer is I like to make pesos!
BS is beautiful
Senor
MUY BUENO DAY AMIGOS!
Started by
senorBS
, Jun 01 2006 02:33 PM
18 replies to this topic
#2
dougie
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Posted 01 June 2006 - 03:02 PM
Welcome back AMIGO. missed you. indeed two days of positive divergence.
MAcd curling up. think we have at least a c up here of B (or 2) before a C down, or a re you thinking something more bullish?
#3
beta
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lasergirl
Posted 01 June 2006 - 03:06 PM
Beautifully timed ! -- Senor, you truly have the Golden Touch 
Edited by beta, 01 June 2006 - 03:07 PM.
"Daytrading -- An Extreme Sport !"
#4
senorBS
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Posted 01 June 2006 - 03:09 PM
60/40 chance the entire correction is finito
BS all the way
Senor
#5
greenie
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Posted 01 June 2006 - 03:10 PM
The anwer is I like to make pesos!
You are kidding !! I am in gold, because I do not like to invest in pesos
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#6
swanstkdh
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Posted 01 June 2006 - 06:41 PM
LOCO HOMBRE. There seem to be lots of them around. Even the ones that want you to pay them. Something else really a trip. Well I guess you are not missing vacation time to much with a return to more fun. S
#7
scott in Wisconsin
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Posted 01 June 2006 - 09:53 PM
We'll see $550 gold, $9 silver, and 110 XAU before we see all-time highs in gold. Metals have turned down, guys. This is a bigger correction than you think. Bull isn't done, but he's gonna rest 6-12 months. Don't give back all your gains . . .
Way too much BS me thinks.
Scott
#8
dougie
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Posted 01 June 2006 - 10:40 PM
Scott: your reasoning? With SenorBs; his reasoning is his record
#9
scott in Wisconsin
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Posted 01 June 2006 - 11:14 PM
Lot's of reasons.
If this is a "decades-long" bull market, which I thinki it is, it's WAY too soon for an endless run without a big pause. They are healthy, but this pullback is just not enough so far, give the run we've had. All the Johny-come-latelys have not been shaken out.
Chart-wise, gold and stocks have all turned down, and should run back to their 200 dma. They always do. And we got so far from the moving average, it always spells trouble.
I want to buy gold stocks, but why buy gold stocks now, when they are pricy in terms of gold? (I sold all my gold stocks when gold shot up to 720, and the stocks stopped going up. And the XAU was way too big compared to the price of gold.) When gold is 5-6 times the price of the XAU, then I'll be very interested again. looking forward to it. That ratio is heading the wrong way now, but it will turn with a vengence.
Anyway, maybe BS is right. But then, his position seems to be "60/40 the correction is over", so of course he's right either way. That's not really a prediction at all . . .
My position is the correction is not over for many months, and we will see the XAU at 110 before we see it at 175. And I'll be buying hand over fist at that point.
Time will tell.
Good luck all.
#10
greenie
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Posted 02 June 2006 - 03:55 AM
Lot's of reasons.
If this is a "decades-long" bull market, which I thinki it is, it's WAY too soon for an endless run without a big pause. They are healthy, but this pullback is just not enough so far, give the run we've had. All the Johny-come-latelys have not been shaken out.
Chart-wise, gold and stocks have all turned down, and should run back to their 200 dma. They always do. And we got so far from the moving average, it always spells trouble.
I want to buy gold stocks, but why buy gold stocks now, when they are pricy in terms of gold? (I sold all my gold stocks when gold shot up to 720, and the stocks stopped going up. And the XAU was way too big compared to the price of gold.) When gold is 5-6 times the price of the XAU, then I'll be very interested again. looking forward to it. That ratio is heading the wrong way now, but it will turn with a vengence.
Anyway, maybe BS is right. But then, his position seems to be "60/40 the correction is over", so of course he's right either way. That's not really a prediction at all . . .
My position is the correction is not over for many months, and we will see the XAU at 110 before we see it at 175. And I'll be buying hand over fist at that point.
Time will tell.
Good luck all.
I completely agree with your argument. If that is not enough, all the gold advisers also agree with you (see link below).
http://www.marketwat...D&siteid=google
That is why I loaded myself with gold stocks now. Will ride the 110 fall
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
