20 replies to this topic

[senorBS]

I am tiring of this board, time to take a bueno break. Adios for a while amigos, I will return, just need to recharge. NO MORE BS Senor

[dharma]

I recall being early some time ago, and took on a margined position. I told people about it. I seriously alomst lost my shirt and got into major debt. At the 11th hour, I had margin calls maybe 5 times a day...when is the money coming..whenn....when....I told them the cheque was in the post. Anyway I put them off for about 5 days and luckily on the last day the thing sprung to life and I went off margin.

I can tell you it wasnt pleasant and never ever again. Its an irony how hold stocks can be most volatile yet supposed to represent lowest market risk.

I can sympathize, having learned from past experience that nothing in the markets is more brutal than a PM correction.

To put things into context, this recent bounce in gold stocks comes AFTER a 50% swift haircut from the peak in late summer.

I suspect quite a few perma-bulls got caught holding thru that brutal decline, and are only now recovering their NAV (although they are not honest enough to admit it).

yes, anything is possible. but is it probable. the C wave is yesterdays news. keep positing your bearish views on gold. i like it, it gets my juices flowing. good luck w/it. dharma

[beta]

I recall being early some time ago, and took on a margined position. I told people about it. I seriously alomst lost my shirt and got into major debt. At the 11th hour, I had margin calls maybe 5 times a day...when is the money coming..whenn....when....I told them the cheque was in the post. Anyway I put them off for about 5 days and luckily on the last day the thing sprung to life and I went off margin.

I can tell you it wasnt pleasant and never ever again. Its an irony how hold stocks can be most volatile yet supposed to represent lowest market risk.

I can sympathize, having learned from past experience that nothing in the markets is more brutal than a PM correction.

To put things into context, this recent bounce in gold stocks comes AFTER a 50% swift haircut from the peak in late summer.

I suspect quite a few perma-bulls got caught holding thru that brutal decline, and are only now recovering their NAV (although they are not honest enough to admit it).

yes, anything is possible. but is it probable. the C wave is yesterdays news. keep positing your bearish views on gold. i like it, it gets my juices flowing. good luck w/it. dharma

I never said Im a "bear" on gold. However, unlike some who want to see gold as a one-way market, Im open to considering possibilities other than the bullish case short-term. I posted my BUYS near the recent lows and closed out my trade yesterday with 30% gains. Good enough for me.

Ill wait to see if the recent run-up continues, but would you be buying new positions here ??

Everyone has their own style for making money. Buy-and-hold works until it doesnt.

I believe gold is in a secular trend until it breaks below 550, but frankly, Im not going to wait and see if that happens.

Edited by beta, 24 September 2008 - 12:19 PM.

[mss]

There are different ways to look at the Market and come to different solutions as how one should invest their money. Expressing your opinions with support, of some sort, is what this board is all about. This helps us all. It is useful to point out in a very civil way, why one poster might differ from another, with supporting statements-logic-charts, or what ever. We all learn from and benefit from this sort of exchange. What is harmful, is when the SAME argument over and over turns into a "YOU ARE WRONG AND I AM RIGHT" type. This does not mean that one cannot state different reasons for their position, it just means DO NOT let it drop down to a PISSING contest. This board has had VERY few such postings and please keep it that way. THANKS to all who contribute their time and effort here. mss

[dharma]

I recall being early some time ago, and took on a margined position. I told people about it. I seriously alomst lost my shirt and got into major debt. At the 11th hour, I had margin calls maybe 5 times a day...when is the money coming..whenn....when....I told them the cheque was in the post. Anyway I put them off for about 5 days and luckily on the last day the thing sprung to life and I went off margin.

I can tell you it wasnt pleasant and never ever again. Its an irony how hold stocks can be most volatile yet supposed to represent lowest market risk.

I can sympathize, having learned from past experience that nothing in the markets is more brutal than a PM correction.

To put things into context, this recent bounce in gold stocks comes AFTER a 50% swift haircut from the peak in late summer.

I suspect quite a few perma-bulls got caught holding thru that brutal decline, and are only now recovering their NAV (although they are not honest enough to admit it).

yes, anything is possible. but is it probable. the C wave is yesterdays news. keep positing your bearish views on gold. i like it, it gets my juices flowing. good luck w/it. dharma

I never said Im a "bear" on gold. However, unlike some who want to see gold as a one-way market, Im open to considering possibilities other than the bullish case short-term. I posted my BUYS near the recent lows and closed out my trade yesterday with 30% gains. Good enough for me.

Ill wait to see if the recent run-up continues, but would you be buying new positions here ??

Everyone has their own style for making money. Buy-and-hold works until it doesnt.

I believe gold is in a secular trend until it breaks below 550, but frankly, Im not going to wait and see if that happens.

one last thought , gold did not trade in the 29-32 time period, but hm did and it went from 3-144 in that time frame. dharma

[Tor]

cg: guess you've been holding for a while huh? I dont know, I confess that, but even today lots of gold shares are failing at the 200DMA. Doesnt that mean anything to you at all?

[cgnx]

Absolutely not. I still dont get your point. Why are you asking me that? What is your purpose? Goal? I'm long gold, period.

[Tor]

Absolutely not. I still dont get your point. Why are you asking me that? What is your purpose? Goal? I'm long gold, period.

my only point is that bears live below the 200 and bulls above it...surely its better to wait until that level is cleared, even if you are a perma bool? I mean it could go much lower, no?

[beta]

was 27.9 a week or so ago

BTW, 37.9% is still a relatively low reading, based on historical extremes. So whatever correction is coming will likely be a pullback before we see higher prices.

[Woody]

was 27.9 a week or so ago

BTW, 37.9% is still a relatively low reading, based on historical extremes. So whatever correction is coming will likely be a pullback before we see higher prices.

Actually, looking at data back to 1997, low was abt -30, 4/15/05 High 89 2/15/02
Lowest we got on this dip 6.4, after such a big haircut we didnt even go negative......maybe it goes higher but I think we need to get negative before any meaningful rally