Gold: Is It Invincible? - Coin Community Forum

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Author	Replies: 9 / Views: 1,218
Ron2012Paul Valued Member 175 Posts	Posted 08/21/2011 12:17 am http://lewrockwell.com/spl3/is-gold...incible.html Report this Post to the Staff

LastGold Valued Member United States 228 Posts	Posted 08/21/2011 01:25 am Ron Psul: Great article! I voted for Ron Paul in 1988, and in 2008 - and I am glad to see he is finally just now getting some traction... History will record his importance to the rise of the Tea Party, and the sea change they will bring about in the coming years... Best, LastGold Report this Post to the Staff
Ron2012Paul Valued Member 175 Posts	Posted 08/21/2011 02:35 am Its great to see the grass roots support hes getting. I'm glad you liked the article. Report this Post to the Staff
mkfarm Pillar of the Community United States 667 Posts	Posted 08/21/2011 08:10 am How could I tell you are Ron Paul for President person? Lew is ok I agree on some of his gold thoughts but other times we do not agree. Report this Post to the Staff
junior e Pillar of the Community United States 931 Posts	Posted 08/21/2011 10:25 am I'm not huge on charts. Whenever those guys come out with their charts I think of those guys who worked at Radio Shack in the old days. Kind of a mad scientist approach. The gold price depends upon three things in my opinion. Number one is supply, number two is how many are buying, number three is how many are selling. At these levels gold is an emotional trade too. If I were buying now I would be more nervous than I was buying at 1500. Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 08/21/2011 10:51 am Yes nice charts, thanks for posting. Junior e keep in mind that many big investors and traders follow technicals so they do effect at least 2 of your factors, supply (number of sellers) and demand (number of buyers). Technicals can also give you a good indication of the "emotional trade" by showing levels of where the masses bought in at which tells you where they might be determined to get out at. For example, almost everyone wants to get their money back ASAP when they make a bad trade. So when a price breaks down below where it had been trading for a period there will be selling pressure (resistance) to get higher from that point. Edited by GoThunder 08/21/2011 1:05 pm Report this Post to the Staff
junior e Pillar of the Community United States 931 Posts	Posted 08/21/2011 1:35 pm Very good points Thunder. I guess it's two ways of arriving at similar conclusions. I know that you are a trader and I respect your technical knowledge. I know that you've been making some moves lately.At this point would you go long gold without protection? I'm going tlmo hop over to Kitco Gold Forum and see what those boys are saying about tomorrow. Edited by junior e 08/21/2011 1:37 pm Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 08/21/2011 1:55 pm Quote: At this point would you go long gold without protection? Thanks. No, I'm not buying here, but I'm pretty heavily weighted towards PMs already (far more than the normal 5-10% recommended by many). I'm sitting here trying to decide what to do tomorrow. I'm leaning toward selling my Sept GLD 178 calls, which is up about 150% in a week (and well into the money) and using that money to buy more Sept GLD puts maybe around the 172 strike. In other words, I'm looking for gold to drop back short term but I'm not selling any physical. I think I'll be mainly using options to ride out a possible drop here. I moved a good % from GLD (paper) to physical not too long ago (about 10 days ago). But I wouldn't be surprised if gold kept going higher and I lose money on the GLD puts. But like home insurance, you aren't disappointed when your home doesn't burn down just because you bought fire insurance. I like his "gold game plan" chart, sounds like a good plan to me IF it happens like that and if someone needs more exposure to gold. http://www.321gold.com/editorials/s...ort_term.gif Edited by GoThunder 08/21/2011 4:43 pm Report this Post to the Staff
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 08/21/2011 4:32 pm Gold is way over bought.............. BUT BUT..my 2 cents below There is a gap at the 1650ish area in the cash market. They could fill that gap in a NY min, turn around and run higher. It also could easily consolidate (go side ways) in the 1650 to 1800 area and unwind the over bought situation. This would be really good for the technicals on the charts as it would reduce the volatility / price swings as well. Lot of folks holding the physical are buying puts on gld...thunder has this trade on..... This is a bullish indication as a lot of long time holders are protected to the down side. Sideways action will get the talking heads on TV to chatter about something else. They could chatter about... Is their intelligent life behind the java streamers constantly blinking red and green......lol I personally would prefer a nice steady linear trending buildup in a new channel to about 2K to 2.4K by Feb / mar 2011 may be even into next summer and then go with a Full Throttle Lift Off........... Happy trading. Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 08/21/2011 4:48 pm I'm looking to go more long on canned goods and ammo here. Report this Post to the Staff
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