Gold is finished

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Well , one can sell early or late, nice timing;
its still a strong uptrend , gold or GLD.Looks like more late traders buying, rather than value investors.LOL

GLD is at the top of the IBD price charts, same with IBD buy & sell volume. But that simply means the data provider probably makes adjustments/bigger charts

 

If only you made the call that gold is finished when we broke $1,900. Then today you would've looked like a genius.

(of course this run down is just to shake out the weak and over leveraged hands so the rest of us can buy cheap gold.)

 

When I heard them say that on CNBC, I had a feeling it had nowhere to go but down . . .

 

14 days early. s&p screwed up my call. bite me.

 

Gold still has to drop another $100 before you break even.

 

Given the Gold/Silver ratio, and silver appearing to rest at its resistance level, I would think we are close if not at the bottom. I think the bulls (me included) will rush back in to secure a position for the next run up, so I can't imagine it is going to take long to run this back up. I think this will give us one more big run, before, the avg retail investor piles in for the big one.

 

Thats true.

 

This is right. There will be multiple stabs at the top before one forms. Another margin hike too and they are trying to push it down. It will run back up.

 

Just curious, I thought GC futures had daily price limits... when did CME get rid of that?

GC already down another $25 from settlement in the overnight session... broke thru $1750.

 

I still remember when gold broke through $1,200 (hit a high of $1,226 if i remember right) and almost immediately dropped like a rock and within 24 hours was around $1,100. All the gold bears came out and said "This is it...end of the gold bubble!"