So is this all part of a replay of the 1980s and 90s...cheap gold, cheap oil, good times, big hair and a huge run-up for equities? ;-) Of course, equities would have to get much cheaper (valuation-wise). I think the S&P's P/E was around 8 in 1982...
I believe this could be the start of the final "c" wave in this mini-correction with 861.10 as the start. Could target 900-920 and will be shorting again at that range.
I agree it could continue lower (hence leaving half my position open) but still believe a possibility of rising higher before stopping at it's ultimate bottom around 800.
Actually, I think I will let my whole position go until the end of the week, or take 1/2 off when we hit 850. So far I am doing oretty well esentially short 360 OZ of Gold from 885. Today is a very good day but my analysis still points that there is a higher probability of more downside which I do not wnat to miss.
Gold up 12 bucks in an hour target 900-920 to complete the (a)-(b)-(c) mini correction, then down we go <img src="http://www.tradingthecharts.com/phpBB/uploads/spwaver/2008-04/gc-5-11-4088.gif">
surf, you're bullish on silver but not gold? what is going on here? http://www.tradingmarkets.com/.site/eminis/commentary/guestcommentary/-76851.cfm "...Fundamentally, silver looks like a good long term investment, in the short term, it's a tough call..."