Breakdown in Gold is imminent!

mr double · May 30, 2012

Most valueless currencies in the world. http://www.binscorner.com/pages/m/most-valueless-currencies-in-the-world.html

investwthme · May 30, 2012

Quote from mr double:

http://infographicboard.com/economy/how-the-russian-ruble-has-added-and-lost-zeroes/
how about 3,000,000$ next year
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Are you saying that the russians are running up gold prices by having fewer bank notes in the late 90's through 2010.
Remember when oil was going to the moon in 2008? I heard it all back then that it was definitely going to 200. Well its been 4 years and still not even close.
Same with gold. Once big money goes out, it falls.
Where are our wave theorists. We had 3 tops since gold at 1900. So 2 more legs down before resuming the uptrend. Oh by the way it looks like a wedge down pattern on a multy year chart.

murray t turtle · Jun 1, 2012

Partial quote Quote from AK100:

$1460 - $1500 is an important level, that's where the parabolic move started from.

Long term bulls if they have any brains should be loving this weakness as it will offer chances to add to their holdings.

However, most of them are idiots, they follow the market day to day and are very easy to panic (the boys know this only too well and play them like fiddles).

Here's a simple way to play Gold correctly, assuming your believe it has the potential to rise significantly over the coming years.

1. $$$$$$$$$$
2. Don't use margin
3. Only buy physical (NO ETFs)
4. Only a maximum of 20% of net worth (Gold is an insurance play against your other assets going down)
5. Don't follow prices everyday, what happens this week and month are irrelvent to what happens next year
6. Put these orders in to buy $1500...
7. Sit back and wait, then probably wait some more, and even more likely wait some more.
8. Only ever sell on EXTREME strength AFTER the market has already moved up $200+. But only sell a maximum of 25% of your holding, then look to repurchase that 10%-15% lower. Whatever you do DO NOT try to be clever and sell more than 25%, if you do expect the market to move considerably higher without you onboard.
9. Pick an ultimate target. Some say $3000, others $5000 and some as high as $10,000. Or perhaps stagger your selling, 33% at $3000, 33% at $5000 and the balance at $10,000. Whatever the case have a plan and STICK TO IT (this will probably be the hardest part of the exercise)

Follw these rules and you won't go far wrong (assuming muchhigher Gold) and you won't be made to look a complete fool by the boys (you were right about the movement but got shaken out by the short term price movements and games being played), in fact they'll respect you for following a plan where their tricks and games can't hurt you...
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Great Pro points;
but not points- '' buying all the way to $1,000'', or ''dont think ''LOL.

$1500+ area held;1 year candlecharts.... Not a prediction, wisdom is profitable to direct.
Its a crying shame;
how many do not know the probabilities of a long term uptrend/price/volume

rockefehler · Jun 2, 2012

Quote from rockefehler:

Gold has set the final top and broken down support; it will go to 1300-1200 the coming months.

There should be lots of nice trades in the down move.
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It has bottomed and spiked up yesterday, so my prediciton is no longer valid. >1800 new price target.

pcp198 · Aug 17, 2012

Quote from TheActionKid:
Gold is going to $3000 within the next 2 years! Also prepare to see $50-$100 intraday gold movements on a regular basis.

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Those wild price predictions are more common with silver bugs.. although I'm currently more neutral than bullish on gold, I feel it will hold up stronger than silver should a major pullback occur in the metals markets. A break of 1500, long gold / short silver pairs trade looks good.

TimtheEnchanter · Aug 20, 2012

...interesting but what do you have against ETF? There is the storage issue (robbery, theft, risk...) as well as assay and bid/ask issues. I assume you do not advocate burring this shit in the desert or backyard....

Quote from AK100:

$1460 - $1500 is an important level, that's where the parabolic move started from.

Long term bulls if they have any brains should be loving this weakness as it will offer chances to add to their holdings.

However, most of them are idiots, they follow the market day to day and are very easy to panic (the boys know this only too well and play them like fiddles).

Here's a simple way to play Gold correctly, assuming your believe it has the potential to rise significantly over the coming years.

1. Don't think
2. Don't use margin
3. Only buy physical (NO ETFs)
4. Only a maximum of 20% of net worth (Gold is an insurance play against your other assets going down)
5. Don't follow prices everyday, what happens this week and month are irrelvent to what happens next year
6. Put these orders in to buy $1500, $1450, $1400, $1350 and all the way down to $1000 (unlikely to get there but you never know with Gold)
7. Sit back and wait, then probably wait some more, and even more likely wait some more.
8. Only ever sell on EXTREME strength AFTER the market has already moved up $200+. But only sell a maximum of 25% of your holding, then look to repurchase that 10%-15% lower. Whatever you do DO NOT try to be clever and sell more than 25%, if you do expect the market to move considerably higher without you onboard.
9. Pick an ultimate target. Some say $3000, others $5000 and some as high as $10,000. Or perhaps stagger your selling, 33% at $3000, 33% at $5000 and the balance at $10,000. Whatever the case have a plan and STICK TO IT (this will probably be the hardest part of the exercise)

Follw these rules and you won't go far wrong (assuming muchhigher Gold) and you won't be made to look a complete fool by the boys (you were right about the movement but got shaken out by the short term price movements and games being played), in fact they'll respect you for following a plan where their tricks and games can't hurt you...
More...

Hansel H · Aug 23, 2012

Bullion is super strong the past few days. Check out the "Gold2" chart. It's trading way outside the upper Bollinger band.

http://www.kitco.com/reports/template_jimw.htm

murray t turtle · Aug 23, 2012

Quote from Hansel H:

Bullion is super strong the past few days. Check out the "Gold2" chart. It's trading way outside the upper Bollinger band.

http://www.kitco.com/reports/template_jimw.htm
More...

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I see your points,Hansel;
pulbacks happen in long term uptrends.Since most trends are uptrending ,a pullback, maybe more likely than a breakdown/downtrend. Not a prediction;wisdom is profitable to direct. Historically ,a breakdown in big bank stocks maybe more likely.

There are plenty of gold, GLD counter-trends that are bearish/downtrends.But most longer term charts are uptrending, 20 days, your 21 dma, 50 days price are uptrending.

ogarbitrage · Aug 24, 2012

Quote from AK100:

$1460 - $1500 is an important level, that's where the parabolic move started from.

Long term bulls if they have any brains should be loving this weakness as it will offer chances to add to their holdings.

However, most of them are idiots, they follow the market day to day and are very easy to panic (the boys know this only too well and play them like fiddles).

Here's a simple way to play Gold correctly, assuming your believe it has the potential to rise significantly over the coming years.

1. Don't think
2. Don't use margin
3. Only buy physical (NO ETFs)
4. Only a maximum of 20% of net worth (Gold is an insurance play against your other assets going down)
5. Don't follow prices everyday, what happens this week and month are irrelvent to what happens next year
6. Put these orders in to buy $1500, $1450, $1400, $1350 and all the way down to $1000 (unlikely to get there but you never know with Gold)
7. Sit back and wait, then probably wait some more, and even more likely wait some more.
8. Only ever sell on EXTREME strength AFTER the market has already moved up $200+. But only sell a maximum of 25% of your holding, then look to repurchase that 10%-15% lower. Whatever you do DO NOT try to be clever and sell more than 25%, if you do expect the market to move considerably higher without you onboard.
9. Pick an ultimate target. Some say $3000, others $5000 and some as high as $10,000. Or perhaps stagger your selling, 33% at $3000, 33% at $5000 and the balance at $10,000. Whatever the case have a plan and STICK TO IT (this will probably be the hardest part of the exercise)

Follw these rules and you won't go far wrong (assuming muchhigher Gold) and you won't be made to look a complete fool by the boys (you were right about the movement but got shaken out by the short term price movements and games being played), in fact they'll respect you for following a plan where their tricks and games can't hurt you...
More...

What God awful analysis this is.

volente_00 · Aug 27, 2012

Unless gold breaks 1800 soon, it is going to trade to 1150/1200 in the next 16 months