Good Gold

Discussion in 'Commodity Futures' started by GlobalFinancier, Feb 13, 2006.

  1. A correction will probably take it to 650 but no lower. Then the next move after 650 will be 800-850 or even higher.
     
    #21     May 13, 2006
  2. Well said. The last several weeks gold's move has gone parabolic. When gold corrects, there will be dust for sure.

    That said, I am short June gold as of late Friday afternoon, with a stop (close) several dollars over Friday's high. The down close after the gap looks bearish to me. At the same time, if I'm wrong, I am out.
     
    #22     May 13, 2006
  3. I think you are risking too much here

    $15 or so is too high ... maybe you can cover half

    if there is a short covering rally monday and look to sell again if it fails close to the highs of friday ?

    I guess if you are looking for nice down move of say $75 then risk of $15 sounds low ...

    good luck to you
     
    #23     May 14, 2006
  4. Why not short gold stocks? Use a smaller position size, but the potential R multiple is higher. I.e. GG
     
    #24     May 14, 2006
  5. Now why try to pick the top of this really strong gold rally? I think a lot of people are underestimating this gold bull market. If this even makes a quick move to $800, there will be a lot of pain and short covering.

    I think, buying on weakness instead of selling into stength would be a better choice.
     
    #25     May 14, 2006
  6. Who's picking tops?:)

    For volatile commodities/stocks in parabolic moves I use a stop and reverse system. If gold goes up strong from the open, I will cover the short and go long.

    The only time I would enter a long-term position in the metals would be if the gold/silver ratio hits below 25. It's not even near there yet.
     
    #26     May 14, 2006
  7. Spot gold 707, near a reversal(H&S hourly). Seems like we are set for a SHARP downturn :D . Good thing too, the local gold stocks have doubled within weeks... we need a rest.
    I bet the gold longs are fidgeting now, while I'm happy sitting on cotton and foodstuffs.(Hey, in the worst case scenario, you'd have to exchange your gold for my food ):D

    Oil is crashing too, though I wavered on that one(especially in my newsletter), discount it :(
     
    #27     May 15, 2006
  8. USD stronger too overnight

    funny thing is there is a

    -Hard Money conference - this week in nyc

    I do not know the historical dates of this conference for the gold bugs but I do remember
    a few yrs ago it took place just around a corrective phase in the metals markets
     
    #28     May 15, 2006