Bottomless wonders spring from simple rules, which are repeated without end
- #14,424
- Aug 15, 2014 9:25am Aug 15, 2014 9:25am
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
I'm dealing with Mr. greed right now, should I buy more.. This is how I am right now: {image}
This move lower basically had to happen technically. I'm not really kidding about that either. It was puzzling me last night, how did gold not go to 1292.69 yet…. because I think there will be a big move higher but that was a a level of exhaustion that needed to be revisited… here we are. And US mkt technology near highs exhausted…. We're going to see fireworks from here ladies and gents.
- #14,425
- Aug 15, 2014 9:28am Aug 15, 2014 9:28am
{quote} I hear you…. It had everyone fooled as it usually does. But it was definitely puzzling to me that gold did not come down to that 1292.69 level… now that it was hit, a new bull move can begin… question is from what level… does it fool us more by sinking below 1290? Not really sure. But I'm sure Gold is going way higher from here in coming months.
i have been calling a short just read my previous posts. this is what price is doing in my opinion two fibs in play to the short side before the weekly fib kicks in long... 4 hr fib 78.6 retrace take profit at the 161 price is there now...... on the daily fib the take profit again is the 161 and at daily demand that caused the break of daily supply - second chart is daily take profit at 161 or in the 1373 blue box
- #14,426
- Aug 15, 2014 9:30am Aug 15, 2014 9:30am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
"The market can remain irrational longer than you can remain solvent"
- #14,428
- Aug 15, 2014 9:36am Aug 15, 2014 9:36am
- | Commercial User | Joined Oct 2012 | 3,968 Posts
{quote} A scary thought is that I have 88% people bullish on gold on etoro... what do you have on IG?
82%… they will likely reduce long positions as we head higher and try to fight it
All significant top and bottom areas end with the majority being on the right side.. but they lost their ass to get there - #14,430
- Aug 15, 2014 9:42am Aug 15, 2014 9:42am
- Joined Mar 2014 | Status: Trader | 1,062 Posts
{quote} Yes, a bit of a risky bet on the S&P. It might just move up on all this "good" news. I think it looks rather frothy, especially if interest rates are going to start going up due to U.S. economic expansion. As for gold, I think we are trading within range. In September, the volume will speak volumes about direction.
Yeah...
I'm not to sure about int rates going up anytime soon still (despite the stellar gdp number). I think the Fed is still too scared to act and change policy; its going to be a while.
( i posted a video clip on here a while back greenspan on bloomberg...he was thinking the same)Indeed high volatility times are ahead of us...
I've started feeling that geopolitical risks are going to increase too...especially around Iraq (repeat of 1990 gulf war or something along those lines)
*with us remaining on the sidelines (passive role); there is going to be a severe power vaccum; which is already being filled with Isis etc but I think iran and S.Arabia could get in the picture soon too...
- #14,433
- Aug 15, 2014 9:43am Aug 15, 2014 9:43am
- | Commercial User | Joined Oct 2012 | 3,968 Posts
{quote} yep you as well, we all have our own analysis , it just seems so many in here say higher lower and dont back it up with anything.......
- #14,435
- Aug 15, 2014 9:45am Aug 15, 2014 9:45am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
{quote} It will, don't you worry at all. By next week We will see 1308 again, you can put your life on that.
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As the lights go by so too do the shadows move
- #14,438
- Aug 15, 2014 9:49am Aug 15, 2014 9:49am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
{quote} Yeah... I'm not to sure about int rates going up anytime soon still (despite the stellar gdp number). I think the Fed is still too scared to act and change policy; its going to be a while.
I think the Fed will raise interest rates...if only to save the USD and ward off or stall the almost inevitable end to U.S. dominance. It will crash the economy, but hey, the Fed tends to do that when the political pendulum swings and Republicans are slated to take turns with the Democrats (Coke and Pepsi). As for geopolitics, I am not buying into the "all is well with Russia and Ukraine" now. Iraq is a real mess, though as long as the oil flows, not likely to have much impact (except on the lives of people whom live in the war zone).
"The market can remain irrational longer than you can remain solvent"
- #14,439
- Aug 15, 2014 9:50am Aug 15, 2014 9:50am
- | Commercial User | Joined Oct 2012 | 3,968 Posts
{quote} Lol ease up mate. I agree we are going up again but nothing is for certain in this industry, you should know that by now (and I'm sure you do)
- #14,440
- Aug 15, 2014 9:51am Aug 15, 2014 9:51am
- | Commercial User | Joined Oct 2012 | 3,968 Posts
who can stop gold from flying now