Gold

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[quote author="upperlowerclass" date=1221702561]Bought Slv this morning and just sold, 7.5% today yipee. Now look for all the gold Jr stocks that didn't move up nearly as much as gold did today.</blockquote>


Took my own advice and bought some NG (NovaGold Resources Inc.) this morning for a 15% profit. I'm all out of ideas now though, all the news coming out is so crazy and unique I feel like any move tomorrow would be rolling the dice. Anyone bullish on gold for tomorrow?
 
[quote author="upperlowerclass" date=1221805029][quote author="upperlowerclass" date=1221702561]Bought Slv this morning and just sold, 7.5% today yipee. Now look for all the gold Jr stocks that didn't move up nearly as much as gold did today.</blockquote>


Took my own advice and bought some NG (NovaGold Resources Inc.) this morning for a 15% profit. I'm all out of ideas now though, all the news coming out is so crazy and unique I feel like any move tomorrow would be rolling the dice. Anyone bullish on gold for tomorrow?</blockquote>




what no inside information? Thought you were the gold whisperer. I'll roll the dice tomorrow with a bet for NXG gains.
 
Honestly tho, I never day trade, but recently have been selling what I thought were long term investments to lock in high profits. It's just funny that two days in a row I've had to sell the what I thought was going to be a long term investment the same day.
 
A funny video for the gold bugs



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[quote author="upperlowerclass" date=1221828956][quote author="upperlowerclass" date=1221805029][quote author="upperlowerclass" date=1221702561]Bought Slv this morning and just sold, 7.5% today yipee. Now look for all the gold Jr stocks that didn't move up nearly as much as gold did today.</blockquote>


Took my own advice and bought some NG (NovaGold Resources Inc.) this morning for a 15% profit. I'm all out of ideas now though, all the news coming out is so crazy and unique I feel like any move tomorrow would be rolling the dice. Anyone bullish on gold for tomorrow?</blockquote>






what no inside information? Thought you were the gold whisperer. I'll roll the dice tomorrow with a bet for NXG gains.</blockquote>


Bought NXG at 1.33 and its at 1.60 today.



Check out how many smaller gold stocks are way off their prior prices when gold was the same as it is now. Gold mining/exploration stocks are lagging, but are starting to gain huge momentum. Pick em up.
 
I'm soooo tired of this market volatitlity. A 20% gain for gold in a week?



Is this all program trading? Pretty much EVERY developing trend in this market has had the same behavior. Some new development occurs, and within an instant, momentum develops so fast that assets go from under to overvalued in the space of a nanosecond.



Not saying gold is overvalued, but I have a big no no about buying something that went up 20% in a week. The 2x gold ETF (DGP) now showing a 50% gain in 6 days. Any short term traders banking on gold now are causing a risk of a crash back down to in another nanosecond.



It's a bit sad really. You do some analysis and you hear about how some asset class will go up 50% over the next few years for a number of fundamental reasons, and then one day you realize that 50% gain happened in a week based on monentum alone.



Still had my 10% position in gold assets, fortunately (with some leverage). I nibbled some (like 0.3%), but buying on such a huge run-up is not desirable.



Oh and of course now oil is the most loved asset class in the world.



Currently 60% cash, rest of it gold, silver, commodities... and some SKF that I got assigned last friday when my SKF puts when deep OTM to ITM in the space of an hour, courtesy of the SEC's "special".
 
[quote author="awgee" date=1222142293][quote author="usctrojanman29" date=1221184895][quote author="optimusprime" date=1221170502]Gold down another $15+



USD still feeling the jig.



Oil down another $1</blockquote>
Look about below...Gold....see ya in the $600s and Oil see ya in the $80s!</blockquote>


Maybe. Then again, maybe not so much.</blockquote>


Shorted both today. Too much punch at that party
 
[quote author="awgee" date=1222142293][quote author="usctrojanman29" date=1221184895][quote author="optimusprime" date=1221170502]Gold down another $15+



USD still feeling the jig.



Oil down another $1</blockquote>
Look about below...Gold....see ya in the $600s and Oil see ya in the $80s!</blockquote>


Maybe. Then again, maybe not so much.</blockquote>
Well, I never expected that the gov't would roll out with a $1T backstop...if things would have gone into the crapper I would have hit my prediction as everything but bonds were melting down.
 
[quote author="graphrix" date=1222178345][quote author="morekaos" date=1222165616][quote author="awgee" date=1222142293][quote author="usctrojanman29" date=1221184895][quote author="optimusprime" date=1221170502]Gold down another $15+



USD still feeling the jig.



Oil down another $1</blockquote>
Look about below...Gold....see ya in the $600s and Oil see ya in the $80s!</blockquote>


Maybe. Then again, maybe not so much.</blockquote>


Shorted both today. Too much punch at that party</blockquote>


Can't wait to see how you look tomorrow, er soon to be today. Prolly a great call.</blockquote>


So far so good.
 
I agree with Awgee here, nobody should give a sh* about what gold does tomorrow. Maybe a bunch of buyers will show up next week, maybe not. What's needed for gold is a slow, steady influx of buyers, and that takes time.



Having gold double overnight then crash back down the next day would severely damage gold's reputation as a "safe haven".



So far, I've been right fundamentally most of the time, but I found in the end I lost the most money trying to out-guess the mo-mo crowds.



Not feeling happy right now about Wachovia, Fed crashing when I sold my puts at the height of the short sale ban.
 
[quote author="awgee" date=1222941350]The only folks silly enough to buy gold are doom and gloomers, gold bugs, and survivalists.




</blockquote>


Those crazy wealthy people. Especially that kook that bought all the Krugerrands in South Africa.
 
[quote author="morekaos" date=1222981025]I dunno guys. Oil down 2.21 Gold down $16.20 Dollar rallying. These just don't look like bullish charts.</blockquote>
Looks like everything is melting down...no place to hide other than US Treasuries. I think the Dollar keeps going up because it's probably the safest PERCEIVED currency out there in this market....look at the Euro, it's getting crushed! I think we can expect some big interest rate cuts to come in the near future for the Euro land.
 
SMN (short major metals) up over $9, SZO DTO (oil shorts) up a ton, UUP (dollar up) up over 14% in a week. There are places to make money out there gentlemen.
 
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