Short-term traders enter long on a GREEN Daily “Trade Triangle” @ $1,386.02 Intermediate and long-term traders continue to remain in long positions.
If you are not yet a member of MarketClub see what you are missing with our 30 Day Risk Free trial and receive 3 valuable bonuses just for giving us a try.
Comments are closed.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.
Elvis, they sold to the Central Banks, not the market. They would not even sell to Sprott. Up 122% in GDX and 150% in SLW in 2010, 50% in GDXJ in past 6 months without counting dividends and distributions and substantially more in too many to list junior explorers. I will take advantage of year end sale and add to these positions over the next week to hopefully beat 2010 results in 2011. Cheers and Merry Christmas!
This one looked really dubious considering the time of the season, that it was near the top of the range, and end of yr settling of the accounts.
THE GOLD-SKY-ROCKETING -My Friend Aggelos...Watch...The Friendly Treaty between India/China Just signed,the coast of this treaty is $100 (B.$),The US-Russia-China-India Technology,the remaining comments with Authur Adam. Thanks.
Manny: i m in the money on DZZ and ZSL --how much did you make, as a long on 12/22. the IMF sold to the market, not to other central banks, it was the higher price. What chapter do i need to read? ELVIS the price did drop for both metals.
The IMF is done selling, eliminating a major source of supply where 400 tons of gold were absorbed by the worlds central banks with ever increasing prices, and that is bearish?????????
ELVIS,I strongly suggest some econiomics 101.
The IMF has announced they are done selling their gold for now as of today. the price will dump tomorrow!
The trade triangles have been quite good to trade gold as long as you don't mind the occasional whipsaw. For you grizzlies out there I strongly suggest that keep your stops close because for the past year or so every time that the bullion banks have tried to knock the futures prices down to cover their ever increasing losses on the COMEX the central banks of Russia, China, India, Iran, Saudi Arabia, Venezuela, Viet Nam and others step in to take advantage of lower prices to buy physical gold. Eventually this bull market will end in tears the way all bull markets end, but for now the shorts are on the wrong side of the major trend. “THE TREND IS YOUR FRIEND”
I believe it will be difficult to make any money on the long side. I am riding with Obozo and banak for next year. they are both intent in destroying our country and our economy. They have proved to me they are good at it. obama wants to be king of the world and have complete control of us, benank will control by buying the whole country. its called socialism, where the citizens are slaves to them. Gold , silver will be taken from you or depreciated to the point of being worthless. FDR did it, so will obozo! "thank you very much" ELVIS
GOLD TO SILVER RATIO
For the greater part of history it took between 13 to 17 ounces of silver to buy one ounce of gold. I quote from Seeking Alpha "although silver is about six to eight times more abundant than gold; the current perceived utility for silver sets it a price 56 times cheaper than gold. However, when fear of systemic failure in the global markets is heightening, items such as silver gain a new utility and use as a safe haven asset and new demand appears. When that happens, we expect the gold-silver ratio to approach 15 again." another quote from "
Gold and Economic Freedom by Alan Greenspan[written in 1966]"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."
AND
"Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale."
AND
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
FOR THE ABOVE REASONS THEN
I see a desperate need by CONFISCATIONISTS to control the dollar value of gold. One of the "mechanics" in suppressing the gold price is to keep the gold/silver ratio way out of whack. 56 ag to 1 au is still an extremely manipulated position. Silver now is my PM of choice since it is now out performing gold.
GOLD IN THE GROUND is the safest and most economic form of gold ownership. We have 7 gold mines in Oregon.
Re: "Buying now is like buying a lottery ticket for yesterdays drawing." Actually it is "Buying now is like buying the winning lottery ticket for yesterdays drawing. If that is not what you meant, sorry" That is what is real.
Although I do not buy gold or silver directly (elasticity curves) tracking both metals using trade triangles is a good measure of people's confidence in other areas. From a long term prospective those doubting that gold will achieve $5000 forget that you used to be able to buy coke for 5 cents a bottle.
Regardless of what the price of gold goes to...just watch the triangles. In my case because I have confidence that the price of gold is sufficiently volatile in the short run ... and I don't want to monitor it on a hourly basis ... I use an intermediate - long term trading strategy. Since April I have made a 275% return on my investment. I wish I could brag that it is because of exceptional investment acumen but unfortunately my success is due to my ability to distinguish between red and green.
Hmm, I only trade gold with gold mining stocks (I also do silver, uranium or so) or I use a turbo, that is a leveraged product only people from Europe may use. You can have a leverage between 1 and 25 somewhere and you pay 5% per year on it so no extra costs to get it through another night.
You can read the few last articles on my site about gold so you are up to date what is going to happen.
What I wrote in one of my last articles was that I was taking part of my profits of the table. I can not liquidate all my positions fast enough when I am in the middle of a correction, so I am selling now and then when a stock rose enough for my liking.
In mining stocks some I have been holding for almost halve a year, so a few are in their last wave so I like to sell anyhow after some more time.
So start to set some cash on the side, do not overdo it, you still have some time, I believe we will survive the holidays. You can also do some short term trades as I wrote in the last few articles.
Dollar strong?? Only against other currencies, paper money will always be inflated and gold will rise as a stroe of value, simple eco.
If you accept the premise that all fiat currencies are intrinsically worthless and that they all, eventually, revert to that value then the theoretically correct price of gold is that at which all the world's gold would retire all the world's dept. This price is c.$60,ooo and the price will continue to rise (with many adventures along the way) until it reaches that level.
The theoretically correct price of gold is the price at which all the world's gold would retire all of the world's debt, c.$60,000 and it will continue to rise until it reaches that level.
lets get physical in a couple months time from now cheapr?
Try IAU, a lot cheaper with same result as GLD.
Usual extremes, I will settle for a steady 2 steps forward one step back pattern continuing. If I had a crystal ball to predict the up and down movements in precious metals I would be a millionaire. This much I am sure of, as long as Bernanke continues running the printing presses at warp speed then the long term trend of gold and silver are UP, in spite of the occasional sell of from bullion bank intervention and/or profit taking.
I M short gold and silver. There is a point when the government pump fails. A high and rising market in the the price of gold means the natives don't trust their own own central bank. When all those central bank see that, they will dump gold on the market. that will happen when the IMF is done stealing your money, so you are forced to trust their worthless paper! It will drop so fast, you can't get out without a major hit. "Thank you very much" Elvis
Inflation and scarcity. That's all you need for gold investing. Good thing we have both with the yellow metal.
IS it reliable?
How do I trade this Gold then, GLD ETF?
There is no reason for it will never get to 5,000 as long as the buck stays so strong. At that price the world would be panning the oceans for the stuff & there would be plenty to go around + we've already been up like 10 years in a row!
WE ARE ABOUT TO EXPERIENCE HYPER-INFLATION ...
GOLD 2000. HERE WE GO 1700, 1800, 1900, 2000.00 DOLLARS PER OUNCE FOR THIS 'RAREST OF COMMODITIES'.
TRULY, UP, UP AND AWAY FOR 2011 AND 2012, 2013,
NOTHING TO STOP THE RAW DEMAND JUST ALONE FROM THE BRIC COUNTRIES,
AND THE GOOD 'OLE USA, MAKING THE US$ MORE WORTHLESS MONEY EVERY DAY, ECVERY YEAR,
BOOM, OR BUST, HERE WE GO FOLKS ...
HAPPY NEW YEAR !!! @#$%^&*()^%$
CNBC pundits talking $1,000 in Gold right around the corner.....Hmmmm, I'll stick with my MarketClub triangles.
Paper money down, real money up!
Gold, while it definitely remains in a longer-term uptrend, is screaming correction. The obvious divergences in RSI and MACD peaked back in October and are looking rather lifeless. Momentum peaked in November and is showing divergence as well, so with the ADX buried down around 12, the last short-term uptrend is over and is waiting for new direction to begin. Whether this new direction will be up or down remains to be seen, but generally whenever new highs are made in price while not being made in indicators, new direction will be down. I'd be more willing to believe that a drop to $1260/oz will be seen long before $5000/oz ever will. Just sayin'...
Sir Q
Listen to Jeremy! BUY HIGH SELL LOW....
Crystal Ball,
Ouch, that hurts.
I am happy to say we will hold our gold trading signals up against anyone else out there.
Enjoy the season.
Adam
Gold and other metals will be taking a 15-20% dive.
At this point buy at will.
Buying now is like buying a lottery ticket for yesterdays drawing.
So far it is looking OK. I am a little concerned that gold may be in for a fall over the Christmas season. This would be a good time for the big banks to bail some of the shorts they hold. Low volume would be in their favor I think.
Merry Christmas and Happy New year to all.
Del,
It is the "Silly Season" so buyer and seller beware.
Adam
hallo my friend YOUSIF!what makes you believe that gold is going to touch sky at $5000 an ounce what is the reasons for that skyrocketing situation,sincerely yours ANGELOS
During my stay in India at 1980,India X Chin,effected the pricess of Gold $450-500-600.an once,India a democracy,China a Social System at that raign, China Signed Agreement to re-gain Hong Kong 1997,Gold rose promptly over $650. Both India/China become Free countries (Gold today reached $ 1380-1400), it is not a Jock...the populations of the above two countries reached (3) Billions...this is one of the smolest reason the price of gold that going up & up...But... there is most and unique reason/s to make the price of gold to $ 5000...!!! What...?