New Gold and Silver Journal

Stilll long and buying even more miners in other accounts.

 

Miners down again...
Nugt down another 10%+ to $11.70
Would live to buy but they keep knocking gold down...

 

Dude this is the best buying opp you will see for 10 years.

 

At what point do you stop buying?

 

Well for the journal I can't really buy anymore. As for my own trading I would say 110-120 on the $HUI or around the $900 level on gold. That would be only long term positions though, as far as my trading, i.e. a week to a month, I would stay long looking for a reversal early next week and be out if it breaches that low or just continued lower. I wouldn't be playing it with equity positions though I would probably be using options/spreads to limit my risk.

I would be very surprised if today/ Mon./ Tues. we make a significant low.

 

As per my rules, I can't reverse till Gold 903.90, and I can't get out of current shorts, maybe next week at higher prices, so I stay short Gold and taken a few longs in Silver past 24 hours, am long and hedged.
Margins gone up pretty much, most likely undercapitalized traders got margin calls even with Minis?

 

It is all about the Dollar - going higher. And Crude, Gold (+ Silver) and many other commodities going lower.

That's the fundamentals. The technicals say the same.

 

Another brutal day for gold. This is why the pros will never try to pick tops/bottoms.

 

Nothing wrong with picking bottom/tops ... if you wait for confirmation.

 

Entering a trade after you see a reversal isn't picking tops and bottoms...