Gold is due for a massive pullback, 2011 could be the year !

[icm63]

see my post here

Chart: http://chart.ly/tlrgjyk

A pull back of 30% would be healthy, 60% not so much ! YOU need it to hold above $100 on the GLD.. SO I will be buying at those levels I hope !

Remember GLD has brought much volatility into the GOLD trend, and we may just get a dose in 2011.

UPDATE: I see a TRIPPLE TOP on the GLD, the are never good...

Watch the TNX I guess...

[mliu_01]

Re: Gold is due for a massive pullback, 2011 could be the year !

I am waiting for gold hit 600 to buy. And I am also waiting my house go back to 2005 level so that I can sell it and use the money to load up silver at 9 dollars again.

[swgprop]

Re: Gold is due for a massive pullback, 2011 could be the year !

And I want a pony.

[icm63]

Re: Gold is due for a massive pullback, 2011 could be the year !

You guys....

Funny or what !

[flintlock]

Re: Gold is due for a massive pullback, 2011 could be the year !

I'm going to go out on a limb and predict a massive pullback sometime during the 21st century. Definitely by the 22nd.

[slippery]

Re: Gold is due for a massive pullback, 2011 could be the year !

30%? I don't expect that unless there is a massive liquidation in all other assets.

I expect support at 1360, 1330, and if all the markets melt down, 1250.

Gold was pricey, but so is just about everything else right now.

[Starving Steve]

Re: Gold is due for a massive pullback, 2011 could be the year !

I suspect that gold is over-bought right now, but one needs fundamentals ( a story ) to go with the tripple-top pattern.

Am I to believe that the Congress in the U.S. is going to stop spending and RAISE TAXES, BOTH at the SAME TIME?

The Republicans are sold on supply-side economics. They still believe in tax-cuts to promote growth. They still believe Reagan had it right: tax-cuts to promote growth, even consumption, and the deficits don't matter in the end because the economy can grow its way out of deficits. So spending, even borrowing, even easy-money, more credit, and more consumption is the solution to any recession. The bottomline with Reaganomics was that we ended-up with bubbles and the Great Recession..... So where do we go from here?--- to more "In God We Trust"? ---- to more kick-the-can down the street for another generation to starve? --- to more defence-spending and nation-building adventures? ---- to more flag-waving and "full-faith and credit"? ---- to negative nominal-interest rates? ---- to longer maturities on debt? ---- to more "just this once, an emergency bail-out"? ---- to more solar-energy? to more wind-power in Wyoming? ---- to more creative-finance? ---- to more NINJAS? ---- to more de-regulation and derivatives? ---- to more China-bashing?

Both parties in the U.S. and the three parties in Canada do NOT understand the problem, or if they do, they are afraid to frankly discuss the solution with the voters.

[jpetr48]

Re: Gold is due for a massive pullback, 2011 could be the year !

A similar triple top pattern developed in June of 2010. The pullback went from 1230 to 1140- and then rocket up to 1350. Like slippery said 1330 &1360 are key support levels.

[blazespinnaker]

Re: Gold is due for a massive pullback, 2011 could be the year !

see my post here

Chart: http://chart.ly/tlrgjyk

A pull back of 30% would be healthy, 60% not so much ! YOU need it to hold above $100 on the GLD.. SO I will be buying at those levels I hope !

Remember GLD has brought much volatility into the GOLD trend, and we may just get a dose in 2011.

UPDATE: I see a TRIPPLE TOP on the GLD, the are never good...

Watch the TNX I guess...

A 30% drop is certainly possible, however, it will have nothing to do with GLD and everything to do a massive deflationary shock.

[aaron]

Re: Gold is due for a massive pullback, 2011 could be the year !

Was that the pull back?

Silver was at 31.10 plus... got down below 28.70 --> Close to an 8% drop.

Gold..1420 - 1365 --> 4% drop

[charliebrown]

Re: Gold is due for a massive pullback, 2011 could be the year !

ouch down 4% , i'm sure glad I was holding safe, and secure like TLT down 13%, not some barberous relic

[Raz]

Re: Gold is due for a massive pullback, 2011 could be the year !

Before anyone gets too bearish you might want to check this out.

http://www.itulip.com/forums/showthr...882#post185882

[flintlock]

Re: Gold is due for a massive pullback, 2011 could be the year !

I just bought more today.

[BiscayneSunrise]

Re: Gold is due for a massive pullback, 2011 could be the year !

The purpose of a bull market is to scare out the weak.