i'm very bearish on gold right now and got out a while ago. overall i'm still a little red with my previous gold investments, but i'm not trying to get back in the black right now. i'm only sitting on some SKF at the moment (only slightly down with it).
if gold gets to 750 i'll play again, but only to then get back out. at that point i'll think of shorting. then hopefully set some long positions.
what you're doing right now Joe is brilliant, and working well for you. but if you can't daytrade (like me right now) this gold market could be a short and painful death. i'm sitting back and watching for a while. i mean look at today's chart. my god. it speaks for itself. if i don't have some cash right now i won't be able to buy at lower prices. and i don't want to be sitting on AUY lots @ 14 while it's heading to 9. some of you can and it makes sense. not me. i'm going to wait for some serious lows.
IMO some major banks and hedge funds are getting dangerously close to insolvency (as in there, just not admitting it yet). This will cause a spike in SKF at some point - and there will be no warning IMO. Hence, my SKF position.
Gold needs time. For now, all I want is to see the market price in reality, aka sub-10k dow for starters. Get P/E ratios back in order for starters. Fundamentals ultimately trump all, but people will hang on to pipe dreams for as long as possible. ;)
10 comments:
Is everyone mad at me for being so bearish on gold lately? I'm feeling no love!
No way Coin - you trade to make money, period!!
I only get mad at myself if I lose money; never at anyone else. :)
Thanks Lat. I WANT gold to go up, but right now it is brutal and the headwinds are very great. I am honestly pretty bummed about it.
I started trading in November of last year with 110K. I was up to 126K...this morning 88K. I am officially off 20%. *sigh*
i'm very bearish on gold right now and got out a while ago. overall i'm still a little red with my previous gold investments, but i'm not trying to get back in the black right now. i'm only sitting on some SKF at the moment (only slightly down with it).
if gold gets to 750 i'll play again, but only to then get back out. at that point i'll think of shorting. then hopefully set some long positions.
what you're doing right now Joe is brilliant, and working well for you. but if you can't daytrade (like me right now) this gold market could be a short and painful death. i'm sitting back and watching for a while. i mean look at today's chart. my god. it speaks for itself. if i don't have some cash right now i won't be able to buy at lower prices. and i don't want to be sitting on AUY lots @ 14 while it's heading to 9. some of you can and it makes sense. not me. i'm going to wait for some serious lows.
gold smacked again...this is just not fun.
No Way John, I'm actually a bit pissed at myself for not shorting into rallies which i'm sure you remember I did quite often when I started the blog.
I'm gonna hit the pool for some luck!!!
IMO some major banks and hedge funds are getting dangerously close to insolvency (as in there, just not admitting it yet). This will cause a spike in SKF at some point - and there will be no warning IMO. Hence, my SKF position.
Gold needs time. For now, all I want is to see the market price in reality, aka sub-10k dow for starters. Get P/E ratios back in order for starters. Fundamentals ultimately trump all, but people will hang on to pipe dreams for as long as possible. ;)
i'm hoping my goals with QMNM aren't pipe dreams!!
Hehe - QMNM has a negative P/E ratio Nate!!!
DOH!!!
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