7 replies to this topic

[nimblebear]

Gold will die here shortly. Dollar is almost at 80 (80.05). many are long the dollar. We should see a substantial bounce. May want to sell gold shares here too. Too many are calling for a breakout. Gold should be much higher with the dollar at 80 here than it is. As soon as dollar bounces, everyone will be in la la land.

[Rogerdodger]

I think Friday has the GDP. That could have an impact on gold/USD.

[johnmc]

Also option expiration in a couple of days. Have to see what happens after that.

http://www.cbot.com/...ll 2007,00.html

[norton]

Rightly or wrongly per the result, I agree, I sold some Sept Silver short today at 13.43. It bothers me that the PMs have not reacted as bullishly as one would expect with the dollar so weak. Have not checked individual open interest of each related futures, but it feels like the world's specs are long, futures and PM stocks. Day 21 today up in silver and against downtrend line. Good enough reasons for me to get a little short in here, against the uptrend, may be too early, blah, could write a book of reasons why this is not a good idea. But, if it FEELS good, i gotta do it!

Edited by norton, 24 July 2007 - 07:21 PM.

[beta]

May want to sell gold shares here too. Too many are calling for a breakout. Gold should be much higher with the dollar at 80 here than it is.

Last time I checked, the HGNSI index was near record lows (bullish), and the COTs were bullish.

The majority sentiment remains anti-gold and hoping for a dollar bounce -- but then, ad hoc sentiment readings are mostly a matter of personal opinion, arent they ?

Edited by beta, 24 July 2007 - 09:52 PM.

[Rogerdodger]

Down a bit tonight so far.

[beta]

Down a bit tonight so far.

660 support should hold IMO -- that seems to be the retrace target, non ?

Those gaps in the GLD chart are telling.

[Tor]

Rightly or wrongly per the result, I agree, I sold some Sept Silver short today at 13.43.
It bothers me that the PMs have not reacted as bullishly as one would expect with the dollar so weak.
Have not checked individual open interest of each related futures, but it feels like the world's
specs are long, futures and PM stocks. Day 21 today up in silver and against downtrend line.
Good enough reasons for me to get a little short in here, against the uptrend, may be too early, blah,
could write a book of reasons why this is not a good idea. But, if it FEELS good, i gotta do it!

My analysis says gold is going up. I think we see a correction, but the planets are aligned as regards gold at this juncture.

It will be interesting.

Good luck.