shit man i wnet out partying last thursday night and bought a gold before i went and forgot to put a stop on. I was worried the whole damned night bout the same exact thing happening but i woke up and was up a little over a dim. pleasant suprise
It's funny they put $20, because he really said you could wake up and it could be down $100. I laugh how the Fast Money freaks don't advocate buying gold miners, instead say buy gold, but always dump on gold's demand story being flawed. These are the traders that will likely push the gold miners on their final major up leg as they chase.
I think its gonna SUCK to be short gold next week with China starting futures trading.... "I want to OWN whatever China is going to be buying"
gold is going to 1000.00 within the next few years. And that's cheap, because within the decade it'll break 1500. It's the only currency that the US can not control and can be relied on as a true gauge for value. The only people short gold are the same kooks who belive in "peak oil" and now buying crude oil at the current historical peak "for the long haul". These same people also paid $500,000 for the 500 sq ft Las Vegas pantry....opps I mean "studio", thinking it was "deal of a lifetime".
I was a gold bull over about 20 years...very painful times. I also was convinced gold would be worth $1,200. It still may, but with a deflation lurking about, I tend to see all asset classes in decline as a result of the massive credit bubble which has inflated everything...I'm not a fan of fiat currency, but I do believe, the usd has either bottomed, or is close to another bottom. Basing this on numbers/EW/sentiment
So, you are saying no more help from the Fed for the markets, and "economic stimulus" paper printing? That's what it would take... I think we'll see one of the two in the next 3 weeks, or we'll see DOW 10,000