I exit some and got stopped out over time. Up 5% on my capital allocated to gold since Nov, but not as great a trade as it could have been (up 30% at some point)...I am not getting back in gold.
Why not? The PPT won't let you down. Computers are the only one buying in the market anyway at this point. End of afternoon bid up is 100%. It's certainly no one else! One computer buys from another. Algos running, HFTs control the world! This is, of course, despite SPY being on the top of the "Selling into Strength" list today: http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html?mod=mdc_leader
I'm not sure whether even Laszlo himself believes in moneyflow as a predictor any more. Anyone spoken with him recently?
I know I started the thread and I was really bullish gold before, but the price conditions don't support my argument anymore. I am seeking new opportunities in long dollar short real/euro.
You are seeking new opportunities NOW in long dollar short real/euro???? Would that not have been more appropriate say 10 to 15% ago?
I am late for the Euro, but the Brl Real is right between the 50SMA and 200SMA. It is still early in the game if this is a new trend.
Ah ok... Understood... Hmm... I was wondering about this. So I guess the next pounding will be the other currencies. It is truly amazing how these bubbles are going around.