6 replies to this topic

[Sentient Being]

I was just noticing that GLD (Gold) is approaching it's 200 day simple moving average. This coincidentally happens to be at a level it found support at back in March. The $62 to $63 range. Year to date GLD has underperformed most of the broader equity market indexes. I guess if you happen to be good at playing the volatility you may be ok but as an investment it doesn't look so hot this year.....yet. I have a small portion of my total portfolio in GLD.

Edited by Sentient Being, 09 June 2007 - 08:18 AM.

[uncleharley]

FWIW, The consensus on the gold board seems to coincide with what you are doing. It's okay to own a little gold, but there are no strong reasons to buy. July or August can be present good buying opportunities from a seasonal point of view.

[Sentient Being]

Thanks for your reply, Unc! I have a 3% permanent position in gold but no trades running.

[Rogerdodger]

Don't trade based on seasonal patterns!
Not last week anyway.
Black line is 2007.
Inverted Seasonal?

[selecto]

Gold could crash. BB squeeze just resolving down with opposite band flare away, macd down, obv down, price momentum down. Its almost way too obvious. Too beat to mark up a chart - You can look it up.

[rkd80]

Gold could crash. BB squeeze just resolving down with opposite band flare away, macd down, obv down, price momentum down. Its almost way too obvious. Too beat to mark up a chart - You can look it up.

hmm, TA aside - gold crashing seems like a stretch given the economical landscape. This latest dollar run will peter out as its up against massssssive resistance and inflation concerns are up, not down. I fail to see a case for why gold would crash...

[Rogerdodger]

At the Gold Board, I posted some charts.
I think Gold/HUI gets a bounce Monday, and $USD pauses.
Likely Tuesday will show the real direction each will take.
MY BS forecast is $USD up and Gold down for it's usual July low.
Maybe it will bottom with the Stockmarket in July.

(Does anyone know why this is a BS smilie?)