6 replies to this topic

[2cents]

With the USD on the verge of collaps and the Yen flying I was certain That gold would test it's recent highs of 725. The gold stocks were holding up well and I thought they would lead the metal. The doesn't appear to be happening. A recovery today could change my thinking but unless that happens I'll be out of the stocks. I'm in at much lower prices and I don't want to give it back.

[da_cheif]

the advance from the 572 level has had several sharp breaks.....use this one to add to ur longs.....allways fade your inner feelings.........all gold did today was gap down to stop at its 50% retrace off the low of jan 5....and u may notice that todays low stopped at the rising 50 day ma which is coincident with the 50% retrace..........all basis april......all of course imho

Edited by da_cheif, 02 March 2007 - 10:09 AM.

[greenie]

Hope you do not get too biased by what I said. I am more often wrong than right, but always ready to contribute my 2 cents

[2cents]

the advance from the 572 level has had several sharp breaks.....use this one to add to ur longs.....allways fade your inner feelings.........all gold did today was gap down to stop at its 50% retrace off the low of jan 5....and u may notice that todays low stopped at the rising 50 day ma which is coincident with the 50% retrace..........all basis april......all of course imho

Chief



Thanks

That's why I'm holding for now. If it breaks below support I'll have to exit. But for now my stocks seem to be performing pretty well today.

[SemiBizz]

Everything else is testing the 2007 lows why not gold and XAU ? I don't get interested til I see that low 129.04 on XAU....

[hiker]

GLD setup and trade posted just now -

http://www.traders-t...showtopic=67132

[fib_1618]

With the USD on the verge of collapse and the Yen flying I was certain That gold would test it's recent highs of 725.

This week provided a nice example of gold being a place where excess liquidity finds its way to when all else has been fully utilized. Think of it as a savings account - a place where when a checking account runs low of funds, you can temporarily take from it and pay your (margin, hedge, or carry trade) bills to right the ship until your next pay check (government intervention/monetary policy) catches up with a short term emergency.

Fib