Cause I make more money elsewhere like in VISA which is up 6% today. Gold is doing the 'pricing in' thing again. Price in, and then rally is the name of the game. Maybe it will be a good time to go long b4 fed meeting. Everyone is expecting the dollar to rally even more, but will it? Probably not.
Gold is shit, no intrinsic value its just a metal no real industrial use, there is so much gold out there and more being dumped on the market. I prefer owning fractions of companies that actually produce something and pay its shareholder part of the profit. Go look at the performance of gold vs the market since 1980.
Oh man this is the most embarrassing thread I have ever read. StockTrad3er likes to talk in short pithy sentences in the hopes that he will not say enough to put his own foot in his mouth. In this case if he had just left it at " Yaaaaawn Gold " He could of claimed victory! But instead this is the ultimate showcase for a sham and fake.... Oh but I'm not long I was just kidding.... You know what? I think Baron should create a separate section on ET for the paper traders and charlatans! ~ stoney
Stone is getting even cause I've been crapping on his threads Looks like gold is moving higher again. Oh no ..maybe the dollar will keep going lower. Oil 116.34 0.02 0.02 Gold 865.40 7.40 0.86 Natural Gas 10.86 0.09 0.80 Gold up 7.4 dollars. It will revisit 950 soon.
I made about 12k by not listening to the BS on this thread, and shorting Gold. Now I have a huge profit on my entire position except one short runner which I plan to leav in place until I am stopped out, or I make a lot more money.
Seems everyone is suddenly turning bearish on gold, hearing it could drop back below $800 and ounce, tough to say where its headed at the moment but if it takes another drop this week I will be looking to buy some DGP.
I think a lot of the bearishness is due to Barron's saying a couple of issues ago that the run on commodities is probably all but over. Seems to me Barron's in the last month is trying very hard to give the impression that everything is honky dory and not to worry, be happy about buying stocks now.
a small liquidity rally could happen in stocks, then gold comes back in style after the fall. thats when a recession should take hold sending the US $ down the crapper once investors lose confidence in the fed and inflation expectations go through the roof.