an opinion gold is unloved by governments since it the barometer for everything wrong with the current system wall street doesn't make any money off of gold.. so dont look for any help there. wall street wants to sell your FRE at 90 and listen to you bitch all the way down to 6. that seems to be OK so if someone is impatient, gold is the place to be..buy at the top and sell at the bottom so it is.
Agree... this is just a phase we are going thru. Surf can post here i have no emails from him saying otherwise. There was a issue with his posts so he may have just got fed up with it and took a break. everyone values his thoughts and can use it for making clear moves vs other info combined.
CROX almost doubled in just a few months after he (you) shorted it. I don't care what position size you used, it was a horrendously awful trade, and you sat in it like a deer in headlights and got run over while CROX squeezed higher everyday. Gold went straight up the exact day you said to short. It has taken more than 4 months for you to get back to breakeven. Now take that "institutional plunger" and pull it out of your ass.
commodity charts are full of these cliff dives... -20 -30 -40% hammerings let it be. the lump of fast money moves onto something else but will eventually return
4 months? Are you really this short sighted? Gold went about 9% higher than where short was called at 955. Can't handle a 9% move? then long term speculation isnt for you. Looks like 600 may just occur before our 4.1.2009 deadline. The gold myth is over, the unwinding has begun, as advised...... thanks for the kind words everyone! i will not be posting very often unless the marketsurfer alias is reinstated. Good Luck and all the best!!!! regards,
Here's the problem I have with all of these calls of THE top is in for gold. John Q Public was being offered cash for gold trinkets over the last few months through TV ads. Now, when is the last time you ever saw the general public nail a top in a bull market and get out smelling like a rose? Never. Until the general public gets overexposed to gold in their long-term retirement accounts and you're getting your hair cut at Super Cuts and you hear that level of 'expert on gold' talking about investing in it, then you haven't see the top. It's more like you're seeing the big Internet Bubble pullback in the summer of '98 and there's 2 more years left that will just blow you away with how high it will go. Destination? Inflation-adjusted, the last major top is around $2200. It's not over. The very existence of a bubble denies all comers who try to pick the top. They always pick too early and stop trying to pick once they've been wrong so many times that everyone else just laughs at them.
i am looking for gold at around 720 and will then initiate big purchases and hold long. 600 is possible but i think it will then continue to climb ... Cheap gold has to be a thing of the past.... i hope it goes to 450 and then i would buy more than the planet has to offer.....
Surf...good to see you posted again under an alias.....this blog is not the same without your views as it lacks the spirit