GOLD next week: (10 - 14 Nov, 2014) Starting as early as possible next week will be looking for continuation and yet another BUY @ approx. 1178 and dig this, at the next correction on 1H or 4H I will be watching for the LOW to hold and then will pour on the coal in massive amounts between that confirmation and 1H or 4H high taken out for a bull confirmation. Profits for some of these latter positions will likely be taken quickly to achieve net breakeven and then once achieved the rest of the positions will be allowed to run to natural death
Upon arrival at October 21 ($1,255) first and then July 10th, 2014 ($1,345) I will be watching super closely because both are previous 4th waves the latter marked in earlier post as (c) faltering if going to happen will happen at these or in vicinity Once past these, options (b) and (a) remain.
Just a reminder ........ if this turns out to be the low in Gold, just note that only 3 gold bulls were left in the investing universe, 2 others and AfterLOS - so massively negative were the views on Gold - so negative about real-money was the HERD And as usual nobody at ET was prepared = YAWN = I know this already but they keep coming in to show they're billionaires - with hindsight trading YAWN
One of my buddies has a gold mine and I go up there and mess around with the locals regularly. Some of them are hobby miners and some do it for a living, for better or worse. Of course we all love gold and are, to one degree or another, "gold bugs". As far as a hedge against inflation, you do not need to take physical gold. This means that the amount of physical gold doesn't have much to do with the number of people who can protect themselves by keeping a decent portion of their wealth in gold. All they have to do is have the equivalent of gold. And just like in the good old days of gold backed currency, a small amount of gold is able to create a vast amount of "gold equivalent" by way of the traditional central banking methods. Banks only needed to keep a small amount of gold around to pay off the few people who demand coin. The majority sees coin as inconvenient. And it pays no interest. What you really need to run gold up is extreme fear. I just don't see why that's going to happen. In the distant past, when gold coin actually circulated, countries were taken off the gold standard by war. And not just little things like the stuff that's gone on since 1945. It took great power wars to destroy the gold standard.
See thread title FEAR in spades has been my CALL with July 2014 top. My bets were $ and\or Gold but I was not sure which would be the longer-term vehicle. Thus far its been $. Now Gold's turn as $ corrects to at least 50% of the latest run. By that time it will become clear which of the 2 is the staying-power beneficiary for the next 2 years
Dollar Index closed @ 87.55 but its attracted to 88.568. In any event, break below 86.87 and the correction has begun - correction to prev. 4th wave @ 84.44 or deeper to 82.56 or 81.5 is expected after correction begins Goldie oughtta show her stuff as the above happens - there will be further clues for me during this battle Yen was the #1 champ of the 2008 crash, with $ as #2 champ. I have not ruled the Yen out yet as she will shine when $Yen corrects, so there too will be a clue. $ Yen Gold = AfterLOS magic levers
This thread is 44 PAGES of how exactly not to trade and waste your time..... You are happy gold went up, yet this is like buying Enron at 40 and happy it went from $1 to $2. Let's recap your 44 pages...... Called gloom and doom, Market near ALL-TIME HIGHS 44 pages later. Bought gold so much, well you likely bought nothing, and now gold is down OVER 500 or so points from all your recommendations. What about your 1360 or 1320 or 1290 or 1285 longs.....or all the other buy signals from your 44 pages of "great" market knowledge??? LOL...... And you spend all your other time talking on hand jobs in Thailand as you are 64 years old..... yea, a model to society. your very first long gold call was at 1320 and gold went straight down over 200 points... LOL.....and you added the entire way and had other longs.....the only thing i believe is your debauchery while in thailand.
The only women he can lay are hookers. That should tell you everything you need to know about this clown.