Reply to: For anyone who thinks buying gold now is a bad idea

[milanbenes]

don't forget folks

all of us want the gold price down

it's not big and it's not clever to have a high gold price

because, gold is the world barometer

if the world is in good shape gold is down

if the world is in bad shape gold is up


if gold is up then yes it's nice for those who got in for an investment, but on the other side, high gold implies bleak outlook for jobs and the economy


if gold is down, economy's good and we're all in work

so, to conclude,

as a gold bug, really, I want to see the world in good shape and the gold price down

but I can't guarantee that it will really fall, the only thing that will guarantee a long term down trend will be a succession of good news over the next x quarters for jobs and manufacturing etc...

Milan.

[Jog On]

$1358 and falling...

I missed my short entry at $1380 with a target of $1350.. Oh well, there will be plenty more and it was only on a demo account anyway.

The US non farm payrolls report comes out today at 1:30 - I wonder what will happen then..

[Sysman]

Here's another clue.

The value of one gold deutschmark in paper deutschmarks.

Would that be a hockey stick?

[Churchill]

I don't think Gold is (now) the safe haven that people think it is. People making money currently are short term speculators helping to force the price up.

It'll normalise (as it has done before) and there'll be a few gullible idiots out of pocket - again.

[Jog On]

Gold is dropping pretty fast right now. About $10 in the last couple of hours or so, I wonder how far it might drop before finding some solid support? 1350 looks to have provided some recent support/resistance.

If I was short I'd be taking some profit and moving my stop to breakeven at around there..

[Jog On]

Helicopter Ben is hinting at QE III

I'll put my neck on the line,

and dip in au is tree shaking to remove the weak

until the world fundamentals consistently begin to turn blue with a sustainable blueness, au is going nowhere but remaining strong and growing

that's my view

still makes I laugh, when Benes Invoicing Ltd guided by quality research began moving into AU in late 2005 and discussing it on here, you lot laughed

Milan.

In since 2005? Nice trade

I'm with you on the long term uptrend, I'd wait for what looks like it could be an impending short term dip before buying right now though.

I'm still not trading anything until about this time next week when things have settled down. I'm not (live) trading any commodities (or anything else other than FX) for the mean time anyway. It's fun to watch and discuss though

[milanbenes]

no comment

Milan.

[DimPrawn]

Helicopter Ben is hinting at QE III

I'll put my neck on the line,

and dip in au is tree shaking to remove the weak

until the world fundamentals consistently begin to turn blue with a sustainable blueness, au is going nowhere but remaining strong and growing

that's my view

still makes I laugh, when Benes Invoicing Ltd guided by quality research began moving into AU in late 2005 and discussing it on here, you lot laughed

Milan.

How much wonga you got in shiny gold, and is it paper gold or real gold under the bed?

[TimberWolf]

Helicopter Ben is hinting at QE III

I'll put my neck on the line,

and dip in au is tree shaking to remove the weak

until the world fundamentals consistently begin to turn blue with a sustainable blueness, au is going nowhere but remaining strong and growing

that's my view

still makes I laugh, when Benes Invoicing Ltd guided by quality research began moving into AU in late 2005 and discussing it on here, you lot laughed

Milan.

lAUghed

[milanbenes]

Helicopter Ben is hinting at QE III

I'll put my neck on the line,

and dip in au is tree shaking to remove the weak

until the world fundamentals consistently begin to turn blue with a sustainable blueness, au is going nowhere but remaining strong and growing

that's my view

still makes I laugh, when Benes Invoicing Ltd guided by quality research began moving into AU in late 2005 and discussing it on here, you lot laughed

Milan.

[Jog On]

I buy at points using the slow stochastic oscillator as a signal for oversold.

If that head & shoulders/triple top and MACD divergence are anything to go by a break of the trendline/neckline could cause a bit of short term selling. Could be a nice short, but would be against the uptrend though..

Ideally I'd like to short it if it breaks to the downside then take profits and go long when (if!) it resumes the uptrend

For now I'm going to wait and see. I think buying with that chart pattern and divergence is asking for trouble.

[DimPrawn]

You mean on dips?

If you want to be technical, yes, on dips.

[TimberWolf]

I buy at points using the slow stochastic oscillator as a signal for oversold.

You mean on dips?

[DimPrawn]

I buy at points using the slow stochastic oscillator as a signal for oversold.

[Jog On]

Gold looks ready for a price correction to me MIght be worth waiting a bit before buying..