Get Your Face Smashed By Gold Today?

Discussion in 'Commodity Futures' started by SlickRick, Oct 3, 2003.

  1. What the hell was that about? I didn't even have time to grab the KY for that intrusion! Geez!!! Share some stories, I cant be the only loser here :)
  2. At least you didn't come in over 100% short.....

    I had gold and shorts....

    I have not been slapped like this in over a year.


    I was flat overnight....just wanted to drop in and thank you for starting a thread when you LOSE money.

    Seems like every day there is another "Today was sooo easy" or "Hope everyone else killed it like I did" thread.

    Best of luck.

  4. Anyone even know why gold was down so fast. It just dropped 15 in a 10 minute period. Did some short fund blow up or something?
  5. ramora


    India and London closed early today plus banks started buying dollars as several currencies broke through major support levels. Gold has been a mirror image of the dollar for some time....

    What is good for the dollar is bad for gold...

    Just a thought...

  6. Well, at least I was disciplined. I was down a bit over 6% today at one point, but doubled on my shorts around noon. Only lost about 4% by the close.

    4% is a bit more reasonable for sure.

    I like it though, bull markets are known to have slow advances with steep declines from time to time. Seems like a bull to me.....
  7. it was largest single day decline in gold in 6 yrs.
  8. Not in percent I thought...
  9. Swish


    I took it on the chin a bit in NEM. I was long from 41.60 on the
    breakout few weeks ago.

    Debated for a bit about hanging on as I hate to exit positions on hysteria, but since I didn't understand what the heck was going on and gold was so singularly bad today, I bailed.....

  10. I guess the market needs a 30-point shakeout from peak to trough every so often to weed out the less-than-fanatic gold bugs :)

    How does the number of speculative longs compare historically here? Heard its quite large.
    #10     Oct 3, 2003