lol thanks, that does help i guess i was thinking dollars not %. Oil has more potential than i thought.
yeah right, when Gold is making front page on all the magizines and when everyone is rocking BLING - that's when I know gold has toped and its time to bail
Yeah gold just broke out to new muti-year highs, and most breakouts are false (or else trading would be too easy) - maybe it will top out and retest support. I would buy any signiicant pullback as most bull markets don't end until the trend goes parabolic, everyone's scared to short, magazine cover stories appear, and the average person is talking about it etc.
Gold has done well of late especialy if you consider that it has been moving against all/most currencies. Most buyers are worried about what will happen with the fed on Tuesday. If they hold off on raising buy gold and stay away form anything in the USD unless you have the skill to trade quickly in and out of the interest sensitive areas they may pop but then the market will go to S@#$ IMO. If uncle greenspan keeps up with the quarter point hikes gold should pull back posibly to suport and if it holds that will be the time to plunge into gold, goldminers ect. silver been weak currently but that may soon change as well but the real deal is in Gold which silver is just a byproduct of. By the way this is the season for gold (physical demand wise)and bush and his printer is making it the investment time aswell. Good combination for the bulls.
This is a great point that I hadn't considered. It (Katrina) also gives the Fed an excuse to be more aggressive in raising rates or more accomodative, depending on how they balance the inflation/growth risks. With gold breaking out it may be tougher for the fed to pause as so many are hoping.
btw buying on strength is a technique that loses money, there needs to be other requirements to buy on strength. buying on strength will get you whipped.