Why the Gold Smackdown?

Discussion in 'Metal Futures' started by sledged, Oct 21, 2010.

  1. sledged

    sledged

    Been following gold last couple weeks, first time in awhile that bears have dented this thing. I am just learning the fundamentals that affect this product, is the recent $50 or so move down in relation to some peoples sentiment that QE2 wont be as big as first anticipated? Thanks.
     
  2. Fast money. Can't take the heat. They got in after the QE II started to be discussed. They came in more then a bit more and then looked around and no one was coming in anymore. They were left holding the bag. They dropped the bag like a hot potato.

    $50 is nothing. Wait for the 300-500 drop
     
  3. PaulRon

    PaulRon

    Because gold was parabolic in shape - that's what happens to parabolic moves
     
  4. the1

    the1

    I think what Ivan is trying to say is, "buy the rumor, sell the news."

     
  5. <img src="http://www.kitco.com/LFgif/au00-pres.gif">

    Very impressive run.
     
  6. You call this a smackdown? Gold makes these down moves every few months, it's normal & expected.

    Observe most stocks in a bull run, they have sharp corrections periodically.
     
  7. Marc Faber and Felix Zulauf said a correction in gold was overdue and weakness should be bought.
     
  8. <img src="http://www.kitco.com/LFgif/au75-79.gif">

    Similar?
     
  9. Also, options expiration. Should be back up next week or so.
     
  10. Let's not forget the obvious, oversold greenback, oversold for now.
     
    #10     Oct 21, 2010