Is gold going below the 846 low? Will the HUI and XAU confirm or make a higher low? Could gold go as low as 780 or even 700-720? Muy difficult questions and Senor has no bueno answers. Just sippin those Margs.
BSing away
Senor
How low does it go?
Started by
senorBS
, May 29 2008 02:26 PM
15 replies to this topic
#2
Tor
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Posted 29 May 2008 - 02:31 PM
great trading and anticipating senor, and for sharing as always.
i thought a three had begun for sure, and now this looks less likely I think.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#3
senorBS
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Posted 29 May 2008 - 02:44 PM
great trading and anticipating senor, and for sharing as always.
i thought a three had begun for sure, and now this looks less likely I think.
A three up amigo? Looks more like a grande south correction has more serious work to do. This could get MUY MALO.
PURE BS
Senor
#4
Jnavin
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Posted 29 May 2008 - 05:24 PM
Maybe a bounce at 846, but ultimately 800/780 this summer.
More of a cafe con leche type of environment for me, Senor.
#5
dougie
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Posted 29 May 2008 - 07:23 PM
wow: 2 very bearish views amongst some of our finest minds....
#6
senorBS
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Posted 29 May 2008 - 08:20 PM
wow: 2 very bearish views amongst some of our finest minds....
Muy difficult to be bullish here, I am certainly willing but the risk as Senor sees it is definitely to the downside for now. If that changes Senor will get ready.
PURE BS
Senor
#7
101001000x
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Posted 30 May 2008 - 12:06 AM
Definitely looks bearish with 1 exception. The main silver stocks did not take out the lows from yesterday while most of the gold stocks did. This is while SLV is closer to its May 1 low than GLD. Wonder what that aspect of the market is saying.
#8
Islander
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Posted 30 May 2008 - 11:50 AM
It is saying accumulate, accumulate because the fall is coming and higher prices will follow. Best Islander.
#9
diogenes227
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Posted 30 May 2008 - 12:21 PM
It is saying accumulate, accumulate because the fall is coming and higher prices will follow. Best Islander.
By "fall" you mean the season, right? Not down first them up?
If you mean the Fall season I'm too short term to bet on anything that far offl but I'm getting a lot of intraday 30 minute buys on the metals stocks -- AEM, BVN, GG, PAAS.
Also bought a little GDX a while ago -- just a nibble.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#10
Islander
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Posted 30 May 2008 - 12:36 PM
Yes, I am referring to the fall of the calender year, actually August to Oct yearly. Yes, we usually go down in June and July, as a rule we have a 5 to10% correction. These are to be purchased. The short term trades around the trend are for others.
I have made the heavy money on buying at low points in summer and sticking with the stocks to the point where they moving up rapidly during fall and winter, at which point I begin to take profits by averaging out.
I has worked well for some years now. Best, Islander
