Gold is going to correct further, yes or no?

Discussion in 'Metal Futures' started by GlobalFinancier, May 15, 2006.

Is gold going to correct further?

  1. Yes

    40 vote(s)
  2. No

    19 vote(s)
  3. I don't know

    15 vote(s)
  4. Don't you know what a trend is, you top-picking *$$#%$@#

    13 vote(s)
  1. Gold is going to correct further IMHO, whatcha think?
  2. maybe, maybe not.
  3. all this indecisiveness...

    [my 2-cents]

    this is profit taking along with everything else over the past few days. I wish I was privy to the internals of wall st.(i.e. the "big boys"), but it looks like, to me, several big boys got together and decided it was time to take some profits.

    sell in may and go away? maybe...

    the stars were aligned such that a few big movers taking liquidity out of the market caused other people to panic, or at the very least follow suit.

    I will be the first to admit that this is a first for me, and i have gotten beat up the past few sessions pretty bad. i have taken this time to consolidate some positions and scale into some new longs. gold being one.

    I moved my money from the miners (aauk) to the GLD etf. whatever you think gold may be - a hedge, inflation indicator, safe haven - there are too many people out there that think gold is too many things for it to see 500 again - ever.

    [/my 2-cents]

    good luck all.

  4. I am short gold as of Friday, so I hope it will continue to correct. Then again, hope means nothing. I'll go long again once the correction is over. Until then, I am going to enjoy the ride down.

    This looks like a correction in a bull market. I am looking forward to going long, since the long-term trend is at this point still up.
  5. if anyone can tell me the percentages

    of a move down to $650

    of a move down tp $ 600

    of move down to below $600

    I am all ears ...

    it scares me to see an ET poster say

    we will never see $500 again
  6. contango



    My 2c... In the next month...

    Below $650.... 50%
    Below $600.... 20%
  7. rosy


    you can look at gold option deltas to get a guesstimate of the probability gold will finish ITM.

    feel free to chat me on yahoo for gold option quotes tighter than what is currently being displayed. my ID is "makebidoffer"
  8. I wish it would drop lower, but I think it is just a pullback after a overshot, just my opinion. Hell I would love it to go back to 480 like around the holidays I will get a second crack at loading up.
  9. Not really, that's usually BS :). The option model assumes stocks follow a normal distribution NOT TRUE, which is the reason for fat tails
  10. Well, it does seem like it'll continue to correct :).
    I'm amused by the fact that 7 people voted the last option. I find it hilarious! :D
    #10     May 16, 2006