Nice buy there at the very top. Buy high sell low. Beautiful strategy, sir. Failed to hold at 1390 twice. The up trend has finally broken. Now that this dead cat rally is over; the next stop for gold is to make a new bottom.
If you knew the trend was up why did you stay short? How far does it have to fall now for you to get to breakeven since you have stated you have been short for quite a while now? If you got long in Jan then you need 114 just to get back to scratch.
I didn't want to risk for the gold rally to end which is why I didn't switch to long, so I kept adding bigger chunks to my short position, which will pay off quite nicely in the upcoming months now that gold is set to plunge to new lows. Now that Russia is out of the picture, the only real risks to my trade are bad economic data and China's potential problems.
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bigbadbears you're a funny man: very proud, very narcissic and very blind and naive on your neocons economic system. (until that quote i was trying to take you seriously, honestly but this gem made me laugh too hard) i want to see your face and your explanation on where the $ is going after russia & china stop using it to sell their oil or decide to dump their bonds (less likely but we never know) to summarize, what do you risk going long on gold ? slow loss, that can be recovered from time to time thanks to volatility (tahnks central banks to manipulate the rates more than often) and strong suppport (what just happened last week ?) what could you win in the highly likely event of a petro-$ collapse ? might be no limit there, the limit will be to exit before the $ is officially anounced dead (and have margin account not in usd obviously) risking tremendous loss to make very little profit that is a really great strategy of your badbear (and i do want to see your face after it happens, whether tomorrow whether in 2 years)
Gold Index Spot chart with volume calculated as combined volume of ETFs that track gold (DGL, DGP, DGZ, DZZ, , GLD, GLL, IAU, UGL)
Gold is trading in an even smaller range over the past 10 trading sessions, which leads up to believe that a breakout is pending. Volatility is low enough to support a straddle, play. It is suggested to âbuyâ enough time even if the premiums are more expensive.
Just cruising around, but that made me chuckle. Seriously? Still? I mean, 40 years we've been hearind that kind of stuff Two words for ya: Global Arbitrage for US Bonds. It'd be sucked up faster than a bare foot jack rabbit on a hot greasey griddle Global market for US Bonds, Russia is what? 0.001% of it? They dump all of their dollars. Then what are they going to do?