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Post by jacksrbtr on Feb 17, 2015 10:47:19 GMT -5
Gareth (the ITMS Flannelmouth) went long the GLD at 115.70
Stop is at a close below 107.65
Target is 125.05
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Post by huh on Feb 17, 2015 10:50:48 GMT -5
Gareth (the ITMS Flannelmouth) went long the GLD at 115.70 Stop is at a close below 107.65 Target is 125.05 Could turn out to be a nice trade, but personally I'd use a much tighter stop of a close below 115.50. There's some gap-down type ugliness if it were to close below that. JMHO |
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Post by novie08 on Feb 17, 2015 11:20:36 GMT -5
Thx Jack. Got a little DGP.
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Post by novie08 on Feb 17, 2015 13:47:28 GMT -5
FOMC meeting tomorrow so there's still time for an entry if one so desires.
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Post by huh on Feb 18, 2015 8:07:59 GMT -5
GLD hit a low of 115.51 in pre-market. Testing the 76.4 retracement ~115.50 from the 01/02 low to recent high. That's the buy point. A little under 115.50 the stop IMO. Still under/within multiple descending triangles here - the reason for a tight stop. But also the potential for some upside if only gap filling and backtesting. Also, dollar could be setting up for a rally (typhoon/bear wringer pattern). Though if the dollar were to rise due to fear that might not be so bad for gold. GLD  Dollar Index  |
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Gold
Feb 18, 2015 9:03:04 GMT -5
Herceg likes this
Post by huh on Feb 18, 2015 9:03:04 GMT -5
Gold  |
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Gold
Feb 18, 2015 9:27:12 GMT -5
Post by huh on Feb 18, 2015 9:27:12 GMT -5
For the record, I still believe gold will see 940 in the long term. Weekly chart patterns seem to have that target locked in. I would only reconsider that view if >1330 now.
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Post by huh on Feb 18, 2015 11:18:56 GMT -5
Had I traded that GLD 115.50, I'd have been stopped out very quickly. 115.60 now the resistance to beat.
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Gold
Feb 18, 2015 22:12:35 GMT -5
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Post by novie08 on Feb 18, 2015 22:12:35 GMT -5
Of course, it reversed pretty quickly once the Fed said no higher rates. Honestly, how can they possible raise interest rates to something normal when there are all of these sovereign debt crises? C'est impossible.  |
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Post by huh on Feb 20, 2015 10:09:59 GMT -5
I saw a post today speculating that a Greece exit would shoot gold to $2000.
I disagree completely. Perhaps if holding in Euros, but not in dollars IMO.
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Post by novie08 on Feb 20, 2015 16:23:38 GMT -5
This trade has not worked at all. No way will gold be allowed to "shoot" to $2000. It must wait for more contagion of the sovereign debt crisis.
Of course, there's always next week.
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Post by novie08 on Feb 24, 2015 20:16:55 GMT -5
NOW they take it up...GRRRowl (that's what dogs do).  |
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Gold
Feb 27, 2015 10:02:20 GMT -5
Post by novie08 on Feb 27, 2015 10:02:20 GMT -5
This call appears to have been a week early. That's the exact problem with this particular market. I cannot seem to get the timing right...sigh.
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Post by huh on Feb 28, 2015 17:46:13 GMT -5
Random thought...I know I'm likely alone in this , but I'll never understand the fascination with long gold until a) it confirms above 1330's, or, b) is under $1000. There's just simply no technical reason until either of those happen. (I know miners are a different beast, so hopefully I don't offend anyone)  |
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Post by jacksrbtr on Mar 1, 2015 13:41:33 GMT -5
Random thought...I know I'm likely alone in this , but I'll never understand the fascination with long gold until a) it confirms above 1330's, or, b) is under $1000. There's just simply no technical reason until either of those happen. (I know miners are a different beast, so hopefully I don't offend anyone) "(You) never understood the fascination with...gold..." What is it about "My precious" you don't understand? Bwahahahahaaa! |
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Gold
Mar 2, 2015 9:59:52 GMT -5
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Post by novie08 on Mar 2, 2015 9:59:52 GMT -5
This is how it's done every single day. Spot =+12 overnight and bring it down, down all day in NY...now +.90 and silver is negative.
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Gold
Mar 7, 2015 10:45:17 GMT -5
Post by novie08 on Mar 7, 2015 10:45:17 GMT -5
Due to the huge selloff last week, didn't buy any gdx/gdxj...maybe awhile before there is a buy signal. Sigh again.
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Post by jacksrbtr on Mar 7, 2015 15:53:06 GMT -5
Due to the huge selloff last week, didn't buy any gdx/gdxj...maybe awhile before there is a buy signal. Sigh again. ITMS had been saying GDX to 19.50 which of course was broken on Friday. |
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Gold
Mar 9, 2015 9:35:16 GMT -5
Post by novie08 on Mar 9, 2015 9:35:16 GMT -5
Another guru I follow says PMs in a downtrend that could last as much as 8 mos. Needless to say, I'm putting on some hedges with this bounce.
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Gold
Mar 9, 2015 15:31:09 GMT -5
Post by jacksrbtr on Mar 9, 2015 15:31:09 GMT -5
Another guru I follow says PMs in a downtrend that could last as much as 8 mos. Needless to say, I'm putting on some hedges with this bounce. WHAT bounce? |
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