24 thoughts on “Gold Alert!”

  1. hmmmm,

    all fancy spance chat here but the bottom line is, the triangles do not pick tops or bottoms. they concentrate mostly on the higher probability "sweet spot" within a trend - the middle of the trend. as for the above comment regarding a "3rd phase" or whatever, when gold took out 850, then consolidated for a year and a half since the 2007/8 implosion under its 1034 high, we entered secular bull leg 2 when 1034 was taken out. this is volatile phase 2 of a highly possible 3 phase cycle. this is only half time in other words folks. that means gold has to double and triple, perhaps even quadrupole from here. the only thing that will mess this up is if helicopter ben jacks interest rates up to 10% immediately which is not likely.

  2. don't sell your metals if your long tem bullish, like me, but when I get a sell on gold, I buy bought gold stock putz yesterday, right now they doubled. But you had to be in the day before. When it turns back up, buy the calls??

  5. I totally agree with your alert. It`s time to take profits for short-term players, anjd even start shorts, target 1300 ... For long-term investors or fear players holding smaller positions is reasonable

    John

  6. Where was the Alert for short term traders to re-enter after the last alert to exit on September 28 at $1291.70?

  7. I'm with you, Chuckie.
    It is tough to trade gold, especially in the third phase. However, a bit of profit taking from time to time is prudent. I like to keep some powder dry. I'm content to run with 75%.

    Other indicators I follow also indicate a temporary short term top. All in all, profit is the name of the game. There's no glory in bravado.

  8. I'm with you Chuckie.
    I took off 25% yesterday. No regrets. Yes, it's difficult to trade gold technically, especially in the third phase which we are now in. However, other indicatorsw I use indicated a short term top.

  10. No matter what method you use, you pays your money and takes your chances. To me Gold looks like a bubble, smells like a bubble and feels (yes, feels) like a bubble. BTW I started buying gold in 2002 at 400-500USD/oz. Have taken profits twice along the road. Not sure that the upside is that big now. So sold all ET gold Monday. Right or rong? History will tell, but happy with the decision.

  11. You are reading tea leaves...unproven, unprovable. Do you also read tarot? Very unscientific.

  12. You are projecting by reading tea leaves. Very unscientific, unproven and unprovable. Do you also read tarot cards?

  13. Gold, as a commodity, is worth what the going rate is...nothing more as you cannot take it with you when you die. That said, if your are a Christian and investor, the Scripture tells us of a time (during the Great Tribulation after Jesus has "caught up" the true Church into the sky) when people will "throw their gold and silver into the streets because it will be worthless".

  14. Since I bought the past two years in a row since the meltdown, I will continue selling this rally. However, no more than 1/3 will be taken off the table. After some kind of correction I will move back in for another rally on the gold and silver stocks. Do not be afraid to take a profit, it is healthy for this market, to take some and come back later. If it looks like a blow off, smells like a nlow off, keep some powder dry. This gold and silver rally has legs that will only stop when there is a great disturbance for some reason as a spike in the dollar. Stay logical, not emotional, take some profits and reinvest later on.

  16. As I've said many times before, gold cannot be traded at this stage using technical analysis.
    How many times do you have to get whipsawed, having to buy back in at a higher price, before you learn this?

    This is a market being bought on fear, not on greed, and thus it does not respond to typical technical chart patterns.

    Now is the time to hold onto your gold and DO NOT TRY TO TRADE IT.

    If you want to trade, do it with AAPL or GOOG.

  18. the dollars going up too, just did wave 2 down, the metals will sound like a blu marlin!!!!

  19. 10/4 Jeremy 5th wave top too! the rocket will fizzle too right along with gold, gold stocks tired and waiting for a break...

  21. Id say this is a buy. Short Term Triangles are too tight and these traders will get whip sawed.

  22. Rather short sighted comment Rocket. If gold drops tomorrow, you'd be singing the praises of the red triangle.

    The daily triangle is the one that causes the most whipsaws - which as I am sure you are aware, is why MC strongly recommends following the monthly and weekly.

    Perhaps a bit more training/understanding of how the system works should be in order before you start making comments.

    Chris

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