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  • #321
  • Jul 14, 2011 10:04am Jul 14, 2011 10:04am
Quoting USD-Bear
agreed, I'll play the pullbacks, hoping some day I'll be in a "be all end all" position
Would love to get in to a discussion why gold has been (incorrectly) chosen as a "safe haven" and why I see it as a mania but then we both have better things to do....
indeed

beeb
  • #322
  • Jul 14, 2011 10:36am Jul 14, 2011 10:36am
Hi guys... so... we reached the sky... do we fall?... I think we go sideways... Major-gold must rest...so downwards it goes till 1572.
  • #323
  • Jul 15, 2011 6:32am Jul 15, 2011 6:32am
So in few hours maybe we will see confirmation that gold begin new pullback down
  • #324
  • Jul 15, 2011 6:34am Jul 15, 2011 6:34am
Quoting ph3onix
So in few hours maybe we will see confirmation that gold begin new pullback down
i don't dispute that at all - i was confused by your "1000 points" and thought you were calling the end of the bull and for gold to retrace to $600.......



beeb
  • #325
  • Jul 15, 2011 7:01am Jul 15, 2011 7:01am
Quoting beeb
i don't dispute that at all - i was confused by your "1000 points" and thought you were calling the end of the bull and for gold to retrace to $600.......



beeb

No no, just to 1475 But if you want - i will give you a hint when gold will begin to fall down with target below 1300
  • #326
  • Jul 15, 2011 7:14am Jul 15, 2011 7:14am
Quoting ph3onix
No no, just to 1475 But if you want - i will give you a hint when gold will begin to fall down with target below 1300
that would be good - then we can REALLY disagree lol

beeb

ps Maund is usually a good read :

http://clivemaund.com/article.php?art_id=68
  • #327
  • Jul 15, 2011 7:27am Jul 15, 2011 7:27am
Quoting ph3onix
So in few hours maybe we will see confirmation that gold begin new pullback down
RSI and Stochastic in the below graph show signs of Gold dropping. However, it may rebound and hit 1605 level today.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold-Spot-July14.jpg Size: 455 KB
  • #328
  • Jul 15, 2011 10:13am Jul 15, 2011 10:13am
Quoting USD-Bear
hi beed, glad to see you're able to enter the thread.
What ph3onix is saying (i think) is that gold does not possess any intrinsic value, it's worth what people want to give for it and it is chosen as a safe-haven because there was once a gold-standard and the world has only weak-currencies. There is no reason to choose gold as a safe haven because you can't eat it to survive. Would rather choose agricultural commodities for that (hot tip )
Telling it is rising sooo long why wouldn't it rise further is more a lemming story like everyone jumps...
I like this view very much, thanks USDBEAR (hey sounds like a cross pair!).

It's psychological, majority of people don't know how and why gold hype keeps getting bigger and bigger, they just follow the wave - the demands are getting larger and larger, while supplies are still limited. Thus driving the price up.

I mean, if you ask, why are diamonds so expensive? Why not sapphire or topaz or ruby as expensive as diamonds? The sparkles?

And why are edible birds nest soup cost $75/bowl and chicken soup costs $5/bowl? Just because they're exotic and hard to find?

We always need money, and maybe one day we'll move towards gold as our money again. If there's no standard valuation for everything (a.k.a barter era is back), it's gonna be problematic. Everything needs a standard, just like meters or kilos or lbs... so does food price.

I still think gold is overvalued, and it has always been overvalued. But how can it not be?
trading is my zen
  • #329
  • Jul 15, 2011 10:38am Jul 15, 2011 10:38am
It is quite refreshing (compared to the other, censored gold trade) that here In this thread people can actually talk! about the possibility of gold price going down!!!
  • #330
  • Jul 15, 2011 10:43am Jul 15, 2011 10:43am
i've only recently been "uncensored" as you put it....

beeb
  • #331
  • Jul 15, 2011 12:02pm Jul 15, 2011 12:02pm
Quoting ShirleyLo
I like this view very much, thanks USDBEAR (hey sounds like a cross pair!).

It's psychological, majority of people don't know how and why gold hype keeps getting bigger and bigger, they just follow the wave - the demands are getting larger and larger, while supplies are still limited. Thus driving the price up.

I mean, if you ask, why are diamonds so expensive? Why not sapphire or topaz or ruby as expensive as diamonds? The sparkles?

And why are edible birds nest soup cost $75/bowl and chicken soup costs $5/bowl? Just because they're exotic...
Just out of curiosity, who pays $75 for a bowl of "edible birds nest soup"?
Or was that one of those analogies that make less sense then confusion?

Maybe after we dig out all the gold then we'll trade with fresh monkey brains, or maybe with some Praseodymium, Neodymium or one of other veeery rare metals.
Don't get mad, get even!
  • #332
  • Jul 15, 2011 12:10pm Jul 15, 2011 12:10pm
Quoting stulic
Just out of curiosity, who pays $75 for a bowl of "edible birds nest soup"?
Or was that one of those analogies that make less sense then confusion?

Maybe after we dig out all the gold then we'll trade with fresh monkey brains, or maybe with some Praseodymium, Neodymium or one of other veeery rare metals.
lol. the chinese/hong kong people do. It costs $2000/kg! Ever heard of it? Much like 'caviar of the East'. It's made of Swiftlet's hardened saliva, rich with proteins and vitamins.

THat's just......how far China goes for stuffs they love. Now they love gold. They keep putting gold flakes on food.
trading is my zen
  • #333
  • Jul 15, 2011 12:19pm Jul 15, 2011 12:19pm
Quoting ShirleyLo
lol. the chinese/hong kong people do. It costs $2000/kg! Ever heard of it? Much like 'caviar of the East'. It's made of Swiftlet's hardened saliva, rich with proteins and vitamins.

THat's just......how far China goes for stuffs they love. Now they love gold. They keep putting gold flakes on food.
Oh no, I hoped it was a bad joke, not enough dogs to eat, or whales to kill, or sharks just to cut off their fins, for soup, for a bloody soup...
Don't get me started about testicles of diverse threatened species of animals, including myself.
Don't get mad, get even!
  • #334
  • Jul 15, 2011 10:09pm Jul 15, 2011 10:09pm
Quoting beeb
i've only recently been "uncensored" as you put it....

beeb
Sorry to hear that Beeb, you mean in the other thread?!
  • #335
  • Jul 16, 2011 5:03am Jul 16, 2011 5:03am
Quoting Fmfx
Sorry to hear that Beeb, you mean in the other thread?!

nope - this thread - i was unable to post for some weeks. i have no idea why as my pm's to jade gate went unanswered so i don't even know if it was intentional or a mistake.

anyway am here now and will try to post uncontroversially lol

beeb
  • #336
  • Jul 16, 2011 12:08pm Jul 16, 2011 12:08pm
http://i56.tinypic.com/i1eg3l.jpg
Moving HUI Index does not currently very bullish on mining stocks. So, this week's HUI index chart, the RSI has reached overbought status based on seeing a sell signal. HUI Main itself rising resistance line, it happened while in motion. Therefore, a short-term drop in gold mining stocks appear likely. gold miners, this week, short-term (within the GDX) ETF chart, the previous decline in the adjusted 61.8% and this level is taken out. so long as the trend remains down. One possibility, although indications are more likely to decline. This is consistent with the long-term HUI index chart analysis, the received signal. Other highly reliable analysis of a sell signal from the Gold Miners Bullish Percent Index, In fact, we show a top looks very close to a situation. The level of RSI and Williams% R. purchase both here and in the last few years has been a reliable tool to predict the local superiors. Of course, the top of a local short-term is synonymous with a sell signal for investors. In summary: for the full version of this article, gold and silver mining stocks rallied significantly recently, but a large number of short-term bearish indicators gives a perspective
  • #337
  • Jul 16, 2011 11:08pm Jul 16, 2011 11:08pm
Quoting beeb
nope - this thread - i was unable to post for some weeks. i have no idea why as my pm's to jade gate went unanswered so i don't even know if it was intentional or a mistake.

anyway am here now and will try to post uncontroversially lol

beeb
Welcome back! Good to have you here.
  • #338
  • Jul 17, 2011 4:29pm Jul 17, 2011 4:29pm
US Dollar Index is shows weakness leading EURUSD, Gold and Oil to rise. see attached charts.

Feedback appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: gold fibonacci analysis.gif Size: 18 KB
Attached Image
  • #339
  • Edited 12:23am Jul 18, 2011 12:12am | Edited 12:23am
starting a short position at 1597.62, planning to increase it up to 1614 with stop above 1617
  • #340
  • Jul 18, 2011 12:26am Jul 18, 2011 12:26am
I will wait for first signs of possible positive debt ceiling outcome, it'll be 1400 here we come
Don't get mad, get even!
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