Get Your Face Smashed By Gold Today?

Don't feel too bad, my friend had a resting order to buy at 380; he pretty much liquidated into the low

 

I got whacked for 6 percent. I imagine this will cascade for a few days. I hate this part.

 

I got CRUSHED in

 

What makes ya think that? Do you think gold will smack us again on Monday?

 

I bought some gold and KY at the close.

 

I kinda like this part, we probably bounce and fade for a few days. Would love to buy more lower. I like lower prices.

 

So did you buy here?

 

what were you trading? mini gold futures?

 

Not yet. These stocks are mostly 100-300% above my basis. Give it another 20% down and I'll be adding a bit.

 

Didn't anyone use stops? Or are the floor traders in the gold pit still experts at running stops.

On a side note, many years ago I was a broker and a customer's gold stop was filled about 10 lower than the stop price in a fairly orderly decline in the mini gold contract on the MidAm. The floor trader holding the stop said he had to go to the bathroom and wasn't there to fill the order!!!! "So, Sue me." was his exact quote to me. My firm (E F Hutton), of course wouldn't go to bat for the customer so I told the customer to just bring a suit against all of us, me, the firm and the floor trader but he wouldn't do it. (This was way before arbitration existed) I hate those guys on the floor.

Wally