Gold

[AtW]

In a long term everyone will die.

HTH

[DimPrawn]

I know a few seriously wealthy individuals and unlike you they don't feel the need to brag. Do you crave our approval and admiration?

Perhaps you should spend a few quid on psychoanalysis.

WHS.

DimPrawn

Soon to be Millionaire (ish)

[Jog On]

Good information filtering there!

And the wager? (4th time now)

[Jog On]

Never heard of them so I wiki-ied the last 2:

1.
Much of Seykota's success was attributed to his development and utilization of computerized trading systems

Ok so that proves my point that you need computerised trading systems.

2.
Dennis held positions for longer periods—riding out short-term fluctuations and holding over the intermediate term.
The exact system taught to the Turtles by Dennis has been published in at least two books and can be back-tested to check its performance in recent years. The result of such back-test shows a drastic drop in performance after 1986, and even a flat performance from 1996 to 2009.[7] However, a number of turtles (eg. Jerry Parker of Chesapeake Capital, Liz Cheval of EMC, Paul Rabar) began and continued careers as successful commodity trading managers, using techniques similar, but not identical, to the Turtle System.

Dennis managed pools of capital for others in the markets for a while, but withdrew from such management in the spring of 1988 after his clients suffered heavy losses. In the Black Monday stock market crash of 1987, he reportedly lost $10 million,[8] with a total of $50 million reportedly lost in
...

So this guy was really crap and lost all his clients money

link?

[Jog On]

But I think it's crap like astrology. Would I know all the astrologists?
BTW Found this about the Henry fella, from BusinessWeek:

John W. Henry, the famed futures trader and principal owner of the Boston Red Sox, was the king of Beantown in October, 2004, when his Sox won the World Series and broke the most fabled curse in sports. But he has been in a dreadful slump ever since. In 2005, 9 of Henry's 11 managed futures funds posted double-digit losses. And with those losses extending through February, his firm has shed $1 billion in assets, down 30% from the peak at the end of 2004, when stray pieces of confetti still littered the Boston streets

He managed to lose in a booming economy? These are your heroes?

In other words, its random, you win some and lose some. Over the long run you're even.
Fundamental mathematical probability of a random system

HTH but IDI.

Link?

[TimberWolf]

I wonder whether day traders who have been successful in recent years might have benefited mostly by gold's steady rise, and whether they might have done even better sitting tight. And those that have lost during a bull run...

[DimPrawn]

From Investors Chronicle today (I subscribe)

Over the long term, higher gold looks inevitable. But the sharp price rises of recent weeks suggests investors should exercise caution, and that a lower entry point may become available in the near term. Investing in gold mining shares is a good alternative to buying physical gold or ETFs at their current prices. Goldplat (12p) continues to grow its recovery businesses in South Africa and Ghana while it commences three significant exploration projects and Avocet Mining (263p) has just added 1.53m ounces to almost double its total gold resource at Inata in Burkina Faso to 3.36m ounces. Both remain buys.


and also:

In this case, I do not think we have seen the end of the long-term bull market in gold. Nor I do believe that gold has entered a bubble. If you compare the recent spike in gold with the last confirmed bubble in gold - heading into that 1980 high - it looks pretty tame. Between November 1978 and January 1980, the price went up by 340 per cent.

That said, gold has clearly become ripe for a pull-back. A substantial dip is needed in order to unwind momentum readings to levels from which the next sustained move higher can continue. A fall of 20 per cent would take it down to around $1,500. That's also the region where gold's 34-week exponential moving average is currently situated. The metal has had an uncanny habit of finding a floor at this level during past corrections.

I would regard a significant fall like this as a major buying opportunity in the making. Once gold resumes its uptrend, I expect it to head for $2,000 and then beyond. A bubble in gold could eventually occur, just like it did in 1980. We're nowhere near there yet, though.


HTH.

I'll be buying back in after a big correction, not there yet though.

[TimberWolf]

From Investors Chronicle today (I subscribe)

Over the long term, higher gold looks inevitable. But the sharp price rises of recent weeks suggests investors should exercise caution, and that a lower entry point may become available in the near term. Investing in gold mining shares is a good alternative to buying physical gold or ETFs at their current prices. Goldplat (12p) continues to grow its recovery businesses in South Africa and Ghana while it commences three significant exploration projects and Avocet Mining (263p) has just added 1.53m ounces to almost double its total gold resource at Inata in Burkina Faso to 3.36m ounces. Both remain buys.


and also:

In this case, I do not think we have seen the end of the long-term bull market in gold. Nor I do believe that gold has entered a bubble. If you compare the recent spike in gold with the last confirmed bubble in gold - heading into that 1980 high - it looks pretty tame. Between November 1978 and January 1980, the price went up by 340 per cent.

That said, gold has clearly become ripe for a pull-back. A substantial dip is needed in order to unwind momentum readings to levels from which the next sustained move higher can continue. A fall of 20 per cent would take it down to around $1,500. That's also the region where gold's 34-week exponential moving average is currently situated. The metal has had an uncanny habit of finding a floor at this level during past corrections.

I would regard a significant fall like this as a major buying opportunity in the making. Once gold resumes its uptrend, I expect it to head for $2,000 and then beyond. A bubble in gold could eventually occur, just like it did in 1980. We're nowhere near there yet, though.


HTH.

I'll be buying back in after a big correction, not there yet though.

Didn't that used to come out on Thursdays?

[DimPrawn]

Didn't that used to come out on Thursdays?

I subscribe to the online version (IC Advantage)

Investors Chronicle

[TimberWolf]

Didn't that used to come out on Thursdays?

Edit: Oh, it is Thursday