that GOLD is a safehaven during financial panic. Nasty financial news from BNP paribas and Gold down 18 points. ES down 23 points and counting......
So much for the theory....
Started by
NAV
, Aug 09 2007 07:57 AM
5 replies to this topic
#2
TTHQ Staff
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Posted 09 August 2007 - 08:02 AM
and HMY has taken a beating as well.
#3
rkd80
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Posted 09 August 2007 - 08:03 AM
that GOLD is a safehaven during financial panic. Nasty financial news from BNP paribas and Gold down 18 points. ES down 23 points and counting......
is THAT why ES is down so much or are they unrelated?
“be right and sit tight”
#4
greenie
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Posted 09 August 2007 - 08:22 AM
that GOLD is a safehaven during financial panic. Nasty financial news from BNP paribas and Gold down 18 points. ES down 23 points and counting......
We are not there yet. In the early round of panic, treasuries are likely to be safehaven. That is the reason I have been so stubbornly staying long TLT. In the next round, when central banks try to rescue the system and screw up as expected, gold will be safehaven.
You need to learn the theory right, not just some pop version of it, or you will end up shorting TLT at wrong time
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#5
Jnavin
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Posted 09 August 2007 - 08:40 AM
I like the "measure of liquidity" theory.
A sudden blow-out in gold means someone is being forced to sell -- like a margin call.
#6
NAV
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Posted 09 August 2007 - 08:49 AM
that GOLD is a safehaven during financial panic. Nasty financial news from BNP paribas and Gold down 18 points. ES down 23 points and counting......
We are not there yet. In the early round of panic, treasuries are likely to be safehaven. That is the reason I have been so stubbornly staying long TLT. In the next round, when central banks try to rescue the system and screw up as expected, gold will be safehaven.
You need to learn the theory right, not just some pop version of it, or you will end up shorting TLT at wrong time
I would urge you to stop spreading some garbage on the internet about my TLT trade. Go checkout my TT post on that. The day after i shorted (7/2), TLT collapsed 2 points. My timing was perefect there. I was lazy in taking profits and ended up waiting for the trade to go against me and closing the trade for a teeny loss. That's the truth. And i am a trader, not some theorist to sit stubbornly unlike some, even when the trade goes against them mor than 5%. Market is a great teacher. It gets everyone some day
Edited by NAV, 09 August 2007 - 08:51 AM.
