Looks like Greenie was right
#1
Posted 02 March 2007 - 10:00 AM
#2
Posted 02 March 2007 - 10:09 AM
Edited by da_cheif, 02 March 2007 - 10:09 AM.
#3
Posted 02 March 2007 - 10:09 AM
It's the illiquidity, stupid !
#4
Posted 02 March 2007 - 10:19 AM
the advance from the 572 level has had several sharp breaks.....use this one to add to ur longs.....allways fade your inner feelings.........all gold did today was gap down to stop at its 50% retrace off the low of jan 5....and u may notice that todays low stopped at the rising 50 day ma which is coincident with the 50% retrace..........all basis april......all of course imho
Chief
Thanks
That's why I'm holding for now. If it breaks below support I'll have to exit. But for now my stocks seem to be performing pretty well today.
#5
Posted 02 March 2007 - 10:29 AM
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#6
Posted 02 March 2007 - 12:36 PM
#7
Posted 02 March 2007 - 12:38 PM
This week provided a nice example of gold being a place where excess liquidity finds its way to when all else has been fully utilized. Think of it as a savings account - a place where when a checking account runs low of funds, you can temporarily take from it and pay your (margin, hedge, or carry trade) bills to right the ship until your next pay check (government intervention/monetary policy) catches up with a short term emergency.With the USD on the verge of collapse and the Yen flying I was certain That gold would test it's recent highs of 725.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions