Discussion in 'Metal Futures' started by increasenow, Nov 3, 2009.
anybody ride the "Gold Ride" up today and make huge $$$?
Well, I've been long gold since 2001, so...
However, I find that silver and mining shares' underperformances relative to gold to this point are divergences that are telling us something important. If silver and mining shares don't catch up soon, I'm going to take it as a negative contrary indicator, and will look to get out shortly.
When are we gonna see some naked short selling?
I guess the natural question is now...will it ever dip below $1,000.00 again?
I'll go ahead and say yes, once the deflationary forces currently building come to the forefront again over the next couple years. I'd guess there's a solid floor somewhere around the $875 area, and that's where I'd start buying again after I've sold my current positions.
For what it's worth, I don't believe the truly big run for glory in gold will happen for another couple years at least, though this one has been fun.
1-so what do you see as Gold's top?
2-so, then is Gold just like Oil last year?
If I had to guess, for this cycle I'd say maybe $1300-1500. The really big fireworks I'll be looking for in a couple years.
It's very possible, particularly if it continues to rally while silver and mining shares continue to underperform. That would be a huge red flag indicating an unsustainable bubble not driven by fundamentals.
alright bulls, here is your only valid elliott wave count
this may be a crazy question...but why...why is Gold soaring?...all commodities crashed last year, the Dollar has strengthened against the Euro and British Pound compared to last years rates...hmmm?
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