My scalp ended last night, gold went all "no bueno" on the follow through. Incidentally I have a short euro hedge to hedge out a future cash flow, not willing to except less than 1.08 and not looking good. Some years ago I knew a guy that worked for a charlatan that sold gold supplements of some sort, claiming some health benefits. I tried to explain that surely gold being a metal it has a certain toxicology at a fairly low concentration... To no avail, I think nobody really cared.
I don't think anyone else cares about our conversation either. Where are the gold bugs when you need them? It's not like I'm walking around with a big can of Raid. The gold market could rally tonight and no one would believe the move. Not even a gold cockroach. It's been down for days and days. Not so tough now, are you? For this trader--, I'm staying away. Course I always say that till I see a hot setup on a one min chart.
It's just not in fashion right now.. hence why i find potential value in it.. although i'm in silver small
Most likely prior. The market moves ahead in anticipation. Dollar is making new highs and gold is at a previous floor. This bottom is far from climactic. We didn't even get a rise when stocks went down this Nov as in August. OTM calls are cheap though.
True that. WORD ! ...& as we speak gold futures catastrophuk break of the lows OH MY GOD SELL SELL SELL!!!!! OH SH!T NO make that BUY BUY BUY!!!!!!!!!!!
Couple years back there was a multi day panic in gold as it broke the lows. By chance I jumped in on panic-squared at the right moment for a very gratifying lightning fast LONG scalp. ...Don't mind if I do - If that happens again
I have a long time frame. 70 day covered write. Should have gone closer, but was already over sizing some exposures.. Best of luck to you. Gold is an enjoyable scalp. Similar to Oil. I can't stand the ES. The book is so thick, it has to trade through you.