Am I getting things straight on this forum? if PM go down do not buy on falling prices according to a certain trader reading the trends and explaining in manifesto size post. Prices go up and I failed to buy at the low end, now that prices are up, do not buy as the may go back down at this rate no one would ever buy anything. I have friends that used the same pattern on buying the SP 500 index funds back in 1980 and as of yet they have not purchased one share while I have seen a rather specular returns during the last 35(still buying) years on that one fund. Just saying.
Boliver, your complaint is reasonable. However, you have to rely on yourself to make decisions from time to time. I learned the lessen the hard way when I was blindly following some experts' trading advice.
I averaged down my silver purchase from 19 all the way to 15; support lines were broken one after each. Those days were tough. But sometimes you just have to trust yourself.
It's hard for Americans to see a different perspective apart from their own currency, so let me shine some light from the Canadian side of things. In the past few months the exchange rate went from 90 cents to 80 cents (1.20 CAD = 1.00 USD). That is a huge difference in just a small amount of time, so when you guys are looking at a stable gold price, we in Canada are looking at the moon. Then look at what the refiners charge for the actual physical metal as opposed to the "trading price". It went from $44/g to about $52/g. Refiners are the ones making the crazy money, mostly from scrapping and not from selling the metal per se, so think about that. Anyways, the point I'm trying to make is that not long ago the Canadian dollar was stronger than the USD, and fluctuates. Just yesterday the Bank of Canada dropped its interest rate from 1.00% to 0.75% ! Crazy when you think about how much weaker the currency will get when it was once very strong. So now relate that to buying gold in the Canadian market - it's getting harder and the rich are getting richer, I believe.
US perspective, everything looks stable. Canadian perspective, it's flying high and having flashbacks. My view is purely an industrial perspective, has nothing to do with investing or stacking.
Leon1998 I was using the post I made more as a metaphor, that being said I took one of biggest losses I ever had years back from my own doing when I listened to one of the experts advise me to move from growth funds to small cap funds, over the next year or so I lost 40% on the small cap while the large cap nearly doubled.it took me years to gain back what I lost besides the gains that would have been if..
Thanks for posting your predictions. In your OP, you mentioned 1250 as a key moment. It looks like for now closed in on 1250 and bounced up a bit from there. What made you add your last post of falling to the $1220 area?
I thought there might be some stop-loss hunting when 1250 was tested. It just didn't happen. However, if price is going to revisit 1250 area; then my 1220 prediction might come true eventually. According to elliot wave theory, we have finished wave a and started wave b; wave c could hit 1220.
More evidence supports gold price pullback to 1225 area.
Last weekly gold futures report showed Commercial traders piled up their short position AGAIN. Now their short/long ratio is close to 3:1; this usually signals a midterm top for gold price. Recent data also reported that short interest on gold has increased significantly in the past few days.
I am mainly a vintage silver bar guy, but watched this video last night and wow - gold is pretty interesting. This is probably one of the best youtube videos I have ever watched. Perhaps I will pick up some if it drops to the levels you mentioned.
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*** Edited by Staff to add YouTube tags. Please use them in the future. We prefer embedded video. ***
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Posted 01/22/2015 9:01 pm
