Jim in Fla, I agree wholeheartedly with your fundamental argument, the US $$ rally may be, probably is temporary phenom......but my TA has signalled a gold bear is here and now important to wanting to make money on a gold investment would be from what level it might stage its comeback. The US is not alone in its troubles....so for now worlwdie contagion may be taking the eye off US $$ ball.You dont make money fighting the trend...
Duratek
2 comments:
FREE TIP - when the paper gold price is falling as physical supplies are near empty, linear (price) analysis MAY be flawed.
While we wait to "time the turn" of paper gold price, we may find that the powers that be decide to have a bank holiday and re(de)value our paper (fiat) money... in the best interests of the country.. of course (as everyone heads for the exits at the same time).or..we may find the shelves already cleaned out at the gold store when we get there..
I don't know, i guess i just hate last minute shopping....
Agree JIm...all my trading friends own PHYSICAL GOLD and SILVER, they cant take that away nor put a debt on it.
Today would have been good day to buy into sector IMHO HL was
99 cents! unfortunately I was out until few minutes ago...I am going to be ready for the coming opps...
Yesterday Lowry's stats for selling pressure hit new high....so I do not think todays action gave us the classic test of the lows, but many others think it was....I'll pass along any stats I can when I get my updates.
BUt holding paper gold from the highs has been painful...physical metals is one thing, you buy to maybe..never sell....pass it on
Paper mines got killed...could be huge buying opp here....look for some follow thru....mkt extremely volatile....there is no typical setups as yet...so going here will carry a fair amount of risk....investors maybe have been selling ANYTHING liquid, adding to golds decline.
There appears to be enough left around to be looking for that elusive bottom...the one I still thnk is down the road...
up volume around 77% today...so against this I will judge subsequent action....take care.
D
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