Golds DONE, SELL SELL SELL

[Mega]

The MSM NEVER gets it wrong!
http://uk.biz.yahoo.com/18092009/325...rally-add.html

Mike

[rjwjr]

Re: Golds DONE, SELL SELL SELL



Thanks for sharing Mega, but this article lacks meat.

This world has a definite case of mis-information overload.

[vpage]

Re: Golds DONE, SELL SELL SELL

when the real fundamental financial problems are addressed ~ and they will some day, then I will consider exchanging my bullion for whatever currency is being used at that time

[Dr.No]

Yes, gold may be done (for now)

The MSM NEVER gets it wrong!
http://uk.biz.yahoo.com/18092009/325...rally-add.html

Mike

There would be nothing wrong with a second selloff in gold before a decisive breakout above $1034. Might coincide with a second strong rally in the U.S. dollar.

What we are looking for is a weekly close at $1050 or higher. Then we anticipate a 90%+ probability that gold is starting a run to much higher levels. Until that happens, we remain open to a second correction that hopefully would do much to remove the positive sentiment in gold and extremely negative sentiment toward the U.S. dollar (97% dollar bears, 3% bulls, most negative reading ever recorded in spite of the dollar being several percent higher now than at its all-time low).

A second correction in gold, especially if it holds above the $681 low as we would expect, would build a very nice-looking base.

[charliebrown]

Re: Yes, gold may be done (for now)

Wow 681?? back up the truck!

[cjppjc]

Re: Yes, gold may be done (for now)

Wow 681?? back up the truck!

I was think more like, wow 681 bite me.

[Dr.No]

Re: Yes, gold may be done (for now)

I was think more like, wow 681 bite me.

We would be adding to our gold holdings a bit above the $732 high of 2006 if a correction does take place before the move to much higher levels.

If there is no significant second correction, we will add to our holdings on a weekly close at $1050 or higher.

[hayekvindicated]

Re: Yes, gold may be done (for now)

I was think more like, wow 681 bite me.

Oh Lord may we get another 681!!!!! This time I won't buy gold, I'll buy every ounce of silver that is out there!!!!!

[Raz]

Re: Yes, gold may be done (for now)

We would be adding to our gold holdings a bit above the $732 high of 2006 if a correction does take place before the move to much higher levels.

If there is no significant second correction, we will add to our holdings on a weekly close at $1050 or higher.

This is precisely my strategy. ;)

IF we get another BIG sell-off I will add 50% of my planned purchases at $865.00 and the other 50% at $785, both based on the nearest Comex future. However, a Friday (weekly) CLOSE above $1050 will commence an immediate impulse wave to the upside, with targets at $1131, $1255, and *$1325*.

PS. Here is a very nice weekly chart courtesy of "Jesse".

http://jessescrossroadscafe.blogspot...old-chart.html

[GRG55]

Re: Yes, gold may be done (for now)

Oh Lord may we get another 681!!!!! This time I won't buy gold, I'll buy every ounce of silver that is out there!!!!!

How are you going to move all that argent to the sub-continent for safekeeping?

Edit added: On further thought that was a silly question given there seems to be a lot of these around the world available for cheap charter these days...;)

[Dr.No]

Re: Yes, gold may be done (for now)

This is precisely my strategy. ;)

IF we get another BIG sell-off I will add 50% of my planned purchases at $865.00 and the other 50% at $785, both based on the nearest Comex future. However, a Friday (weekly) CLOSE above $1050 will commence an immediate impulse wave to the upside, with targets at $1131, $1255, and *$1325*.

PS. Here is a very nice weekly chart courtesy of "Jesse".

http://jessescrossroadscafe.blogspot...old-chart.html

Yes, we think it makes more sense to add to our gold holdings at lower or higher prices, not at present levels. Either a bit above $732 or on a $1050+ weekly close.

[rj1]

Re: Golds DONE, SELL SELL SELL

Thanks for sharing Mega, but this article lacks meat.

This world has a definite case of mis-information overload.

Like most of Mega's posts and new threads.

[hayekvindicated]

Re: Yes, gold may be done (for now)

How are you going to move all that argent to the sub-continent for safekeeping?

Edit added: On further thought that was a silly question given there seems to be a lot of these around the world available for cheap charter these days...;)

Won't have to move Argentium to the subcontinent as there is plenty locally available.

Of course, I won't be able to buy "every ounce of silver that is out there". If Nelson Bunker Hunt couldn't pull it off with his balance sheet, no one can! ;)

[rabot10]

Re: Golds DONE, SELL SELL SELL

I don't understand the peeps that want gold to crash so they can load the boat??????? How about load the boat now and it goes up from here

[Dr.No]

Re: Golds DONE, SELL SELL SELL

I don't understand the peeps that want gold to crash so they can load the boat??????? How about load the boat now and it goes up from here

A test of the $681 low where gold most likely holds above that low would in no way be a crash. One could reasonably call it a crash if gold fell below $500, perhaps all the way back to $250. That seems to fit the word 'crash' a great deal better than a normal 25-30% decline.