40 thoughts on “Gold Alert”

  1. Dan iMho this time is so differant that it will affect the lives/fortunes of every living Soul on this planet... the Gold Cartel continues to shoot themselves in the feet because the market never gets overbought because of THEIR constant daily price-capping... instead of scaring off cash buyers with too high prices, too fast, the bums are encouraging the physical market buyers to step up to the plate in this orderly price rise... most of the analysts and investing public are looking for a correction and not focusing on much higher prices.... at some point in the near future, the gold/silver freight trains are going to transform themselves into express trains... then we can think about pullback time Dan !!

    can real gold/silver commercial signal failures be far off?

    got gold? silver?

  2. It is always 'different this time'. Occasionally it is different this time. But more often that not... it will not be different this time.

  3. yes Dan that was the old painting of the charts, wasn't it? My guess is We are looking at a whole new market scenario now though... this is going to be one wild bull ride with violent swings both up and down although the down swings will be very short-lived... this bull wants as few riders on board for the big moves ahead as possible... best to just buy and hold on for dear life... otherwise You'll be caught on the sidelines
    waiting for those old pullbacks that just won't come until substantially higher prices iMho...

  4. Gold nd silver doing very well, but why correction is not coming in the RSI of above 80

  5. Sorry, but that was not a pullback. Pullbacks don't happen in one day. Gold tends to stutter first for a few days. Look at a one year chart. There is a good chance this was only the beginning. A real pullback would be $1274 (currently the 20 day SMA). GLTA

  6. very constructive pullback today Dan until late in the day when g&s rallied to cut losses considerably ... both gold and silver have had some run and were due for a rest with normal profit-taking setting in. We have been spoiled of late... a day like this one was overdue... gold fell to $1295 and silver to $21.54. Both precious metals then firmed up nicely and gave notice to the shorts to tread lightly... a testament to great bull markets is when they correct violently and than have the capability to come right back, leaving the shorts talking to themselves... this is what we got today...

  7. Dear Adam, I’ ve seen your comments and your video on Gold. My trades are mostly on SPY options and I wish I have never traded it. It is a high cost I have paid so far but it seems can’t kick the habit. I did join market club for stock picking and I am trying to convince myself of trading equity following your system signals. However I hope you can give me an advice on gold “GLD” option that I wish to take in addition to my equity positions. Which GLD option would you recommend? and what would be my entry point? If you were to take an option would you wait for a significant pullback? or would you take a chance for an entry around the current levels?

  8. You gold longs really want to pray for a profit taking pullback soon. If gold does not pull back it could peak early in this 2010 rally... and that is NOT what you want. You want a healthy rise to $1440, not a straight run up to $1380 followed by a crash back down to the mid $1200's. If a blow-off like that happens a lot of people are going to get burned who bought late and gold could bounce around the mid $1200's for months before anyone wants it again. GLTA

  9. That's true, but the reasons for this bull market are still in place. And then some. The US dollar is in danger. Add to that Asia's appetite, central banks not selling, etc.

  10. The balloon is the Market. Tomorrow is the end of the third quarter; October is typically down.
    The CRB index is new high, bodes well not only for all commodities, but for Gold {money} as well.

  11. gold willl be at 1400 first qaurter of next year. buy your dips. 1292, 1283, 1274, 1266 (if it gets back there, which is possible, but not probable, w might see a touch and go), and 1254 ( also possible, but chances are unlikely ). Gold is running hot, just ride n enjoy it. Till it ends, which in my understanding will not be till after the next 3 years. look around u, we going into a major recession, which evryone is trying to hide, but cant anymor, gold is gold, thats the only hedge possible. notice - american debt and gold have a very positive correlation, american debt is almost at 3,5 billion, gold shoud be at 1350 in the next 2 months. maybe even less.................................. only time will tell............

    Regards
    The Gold Bug

  12. Gold is doing well. Everyone is flocking to gold which is fine, The Market and Gold, one is a balloon...which one ? Something is going to pop...

  13. My hearty congratulations to you Joseph, you must be very happy. I'm hoping to do well some day, also. Well done!

  14. I agree with Adam and am long term bullish. This little blip down was a chance to grab another long bet. It turned out OK when gold jumped back up.

  15. Just speculating

    But it looks like the trade triangle algorithm got whiplashed when AU (continuous gold broke 1280).

    Now if I am correct then I would see the short term "buy signal" come in at a higher price.

    This is a BULL RUN and as one poster mentioned TA does not always work.

  16. Like I said last time, DO NOT GIVE UP YOUR GOLD!!!

    9 times out of 10 you'll end up buying it back at a higher price.

    Let it run. The top is not in yet, and won't be for quite a while.

  17. Ouch again. This market is different from anything yet seen and will trip up conventional chart work. We are parabolic, perhaps going to infinity.

  18. lol. I knew it. Like I said, technicals have their place, but not anymore. This is a macroeconomic and political based asset/commodity. Just buy and hold until the Fed stops printing billions of dollars every week.

  19. As I posted, "I’ve been going through my portfolio for the past week, taking profits, as I felt a correction or sideways period was imminent."

    It's not always easy to pick a top or an exit position, but one must. And I feel we'll see from a 3 to 5% correction ahead, at which time I re-enter at a lower price and keep the cash difference. I believe the point of trading is to earn profits. It's not always easy to 'let profits run' in a volatile market, only to come back later that day and find it's dropped 10% or more.

    If you look at the increase I made in the last six weeks over my base, I think I'm doing something right.

    Oh, and by the bye, I wrote the above BEFORE my Salares Lithium was taken up at C$ 3.80, from the C$ .60 I paid for them, putting me C$ 7000 to the good.

    Good trading!!

  20. OK Adam ...
    Maybe it would be useful for you to "define" in approximate terms , your time frames relevant to ...
    DAY TRADES , SHORT TERM TRADERS , INTERMEDIATE TERM , LONG TERM !

  21. I would like to add, that every system is design to be profitable over the long hall and does not catch everyrise, but it should keep you out of trouble while making a decent profit. If you don't follow the rules of the system, you will get in trouble. I believe that the trade triangles has been a successful system and would rather have missed an opportunity rather than been at the wrong end of a big move.

  22. The short term red trade triangle is price driven, so if there is any manipulation of market makers this can wreak havoc on a system such as marketclub...especially in an options expiry week. Best to use lightly during such a time as no system is perfect, and during...do I dare say...stable market times, such a system would catch the trend in the right direction...of course, by nature, markets are not stable 🙂

  23. Never sell gold...the US Mint just announced they are out of 2010 Buffallos all dealers got the letter yesterday morning.

  24. Anyone else out there trading Gold using the WEEKLY signals versus the daily signals? Gold may pull back but trend is still firmly in place!

    1. Brandtrader,

      Just following our short-term system. We did not abandon our long-term bullish stance for intermediate and longer term traders who remain positive on gold and in long positions. Let's see what tomorrow brings.

      Thank you for your feedback.

      All the best,
      Adam

  26. the only thing big Your missing Jp is a concerted effort by the PTB to keep interest in gold & silver
    to an absolute minimum ... if anyOne in mainstream news(financial or otherwise) we're to actually tell
    You the truth ie: buy metals cause FIAT is worthless THEY would be fired(or worse)... I doubt that You
    will ever read this comment Jp as THEY will delete it for sure like THEY have done every single time if
    I didn't put in such a delete comment like this....

  27. Hmmm...
    triangles say get out at around $1291. Just in time to avoid the run up to almost $1310?? I know I've gotta be missing something big here, but I just can't seem to see what it is...

    1. JP,

      As we said in the Gold alert it was for short term traders only. Longer-term traders and intermediate term traders remain positive and in long positions in gold.

      Thanks for your feedback.

      All the best,
      Adam

  28. FMC $ 3.40 4150.0% Today's single highest gain on the TSX, even beats yesterdays 3,475% on a junior miner.

    THAT's why Canadian juniors are so wonderful, and have made more millionaires than any other stock market in the world!

    Timing IS everything, which is what she also said, pleased at my actions. My Salares Lithium handed me a nice surprise AFTER I wrote my initial comment, as my 2000 shares went from C$.58 to C$ 3.80, adding another $7,000.00 to my earlier $20,000 on top of my initial base of C$ 83,087 [It had actually fallen on one day to $77,320....].

    It's not easy to pick tops or an exit point. It's always better to sell into a rising rather than a falling market. And in these times of fast corrections and volatility, it's virtually guaranteed one can work the seasonals and buy back in at a lower point, to start the cycle over and over and over.

    As Heraklitus of Ephesus remarked circa 600 BC, "the way up and the way down are one and the same," which is true, but I note that we humans aren't so philosophical on the way down! He's the same chap who penned "One cannot step into the same stream twice, for the water is ceaselessly flowing, on and on."

    And on that note, let us return to our trading, and take profits rather than losses.

  32. I'm concerned about the exceedingly high short position of the big bullion banks ! Early today gold went into a quick DIVE to 1280.00 and immediately reversed to 1309.00 !
    Anyone wish to comment on whether this was a manipulated short covering exercise to reverse the big bullion bank shorts (and whether their position is now materially changed ... if at all )

  34. Gold up to $1305 as I write this.

    Any traders out there getting whip lash yet from the gold market?

    As I've stated a few times recently, the coming volatility in the gold market is going to make trading this market based upon technicals virtually impossible, well impossible without repeatedly getting stopped out at a loss.

    1. Ray,

      Eventually all bull markets top out and no one rings a bell when the top is in place. The alert clearly stated it was for short term traders only and not intermediate or long term traders. We are committed to the long side of the market for those traders.

      All the best,

      Adam

  36. Yeppers, I've been going through my portfolio for the past week, taking profits, as I felt a correction or sideways period was imminent. Of course I'll buy them back later, at a lower price, and bank the profits. September and October have been wonderful months for me, as I'm up C$ 20,000 on my meagre C$ 83,000 base! That's why it's crucial to take profits and let the cash rest. Cash IS an investment position!

    All best, and good trading!
    Joseph, 67
    Victoria, BC

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