when to sell gold?
MoneyLA
Posts: 1,825 ✭
in looking at the charts for gold, there will be a sell signal if gold should close below $650 an ounce.
Im not saying gold will get that low. Im only saying that IF gold should drop that low, a sell signal would be flashed.
there will be a short term sell signal should gold close at $730 which was the recent low.
but gold could linger in the 650-730 range without any long term damage.
I continue to believe that gold is in a trading range of 800 to 950.
Im not saying gold will get that low. Im only saying that IF gold should drop that low, a sell signal would be flashed.
there will be a short term sell signal should gold close at $730 which was the recent low.
but gold could linger in the 650-730 range without any long term damage.
I continue to believe that gold is in a trading range of 800 to 950.
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Comments
I'm pulling back for a while and looking at bargain stocks, GM, F are at 50 year lows, like going back in time.
Scott
I don't think you will see 650, maybe 688 (both shown on a long term chart) , but perhaps 725-727 is all we need to go.
they failed to sell and now look at what is happening.
it is like they have no idea when to sell their gold. none at all. no exit strategy.
so asking people this question is quite humorous. they will dream up answers to the
question that revolve around when they need the money, when they retire, etc...
see how well that worked out for stocks for those retiring right now? gee. i am close
to retirement, my goals have been met. it is time to go to safer place with my money
but look at that return last year... hmm.... let me keep it in there for a while longer. BOOM.
failed plan.
so to answer your question, the sell signal past us twice before. a failure to stay above 1000.
now you might as well hang onto it if you bought above 700+.
they failed to sell and now look at what is happening.
it is like they have no idea when to sell their gold. none at all. no exit strategy.
Successfull traders just don't pick a round number out of the air ($1000) and plan to sell at that point. With that logic think of all the gold holders that would have sold at $800 and $900 in late 2007 to early 2008. Those guys looks at the charts and determine when a run has reached a frenzy or just exhaustion based on various TA factors and other inputs. The round number game almost ensures you won't get the amount you should. The Lion's share is made by those who get in early and ride the trend to the end. The end of the gold trend is in the thousands within the next 3-7 years. Sorry, but I'm not looking to make 20%, get out, and forget to get back in again. I can still see Kitco's John Nadler in August 2007 telling everyone that gold at $650 was too high. He then kept his clients out as gold reached $700, $800, $900 and $1000. He was dead wrong for 7 months. But he was finally right at $1033 (lol). And I'd imagine maybe he got a few clients back in this year when gold hit $750....or maybe not as he's waiting for sub-$650 just like in August 2007.
As far as "look what's happening now," gold is showing great strength in standing strong in the $800-$900 range (a 20% correction) while oil, silver, gold stocks, and other commodities got halved. Obviously gold is not trading lock step with oil or it would be at $570 now. I think that speaks well to the strength of physical gold in the current environment. For what it's worth fc the largest % gold holding I have is in MS63-65 $20 Saints. They are higher now that when gold was at $1030 in March. I "failed" to sell and look what happened.
so asking people this question is quite humorous. they will dream up answers to the
question that revolve around when they need the money, when they retire, etc...
Most people who hold physical gold due to so for protection. It's usually not for sale in the short term or even longer term. It needs to be there in your hand when it's called for. That could be next week or next year or 3 years.
see how well that worked out for stocks for those retiring right now? gee. i am close
to retirement, my goals have been met. it is time to go to safer place with my money
but look at that return last year... hmm.... let me keep it in there for a while longer. BOOM.
failed plan.
I've been saying since the mid-90's that 401K's were a kind of scam. How can everyone retire and get "rich" at the same time? The chickens are coming home to roost. The long term hold in stocks is today just bad strategy. While that logic worked fabulously well for my father and his father (from 1920's to 2001) before Wall Street and derivatives went exponential, it's probably suicide today. But on the flip side, we all can't be traders within our 401K's...at least not effectively imo.
roadrunner
<< <i>Forget the charts...the time to sell is: if the demand is greater than the supply. Like now...unbelievable premiums over spot. >>
i'm feeling my oats too, OPA
How are 401K's a scam when you very often get a company match that equates to an automatic 50 to 100% return, and is tax deferred? And you don't like stocks, but there are usually a number of other options to invest in.
There are 300 million Americans, and people enter and others leave the workforce every minute, so I'm not sure why it would have to be at the same time.
The chickens are coming home to roost.
That could have been said in '87, '02 or any other bear market. It looks ugly now, as it always does when you're in the midst of the turmoil. But in retrospect those were normal down cycles. As for the OP, the time to sell gold was in January 1980 when it reached $2000+ in today's dollars.
For one, the government decides when, how, and at what cost... you are allowed to get "your" money.
<< <i>How are 401K's a scam
For one, the government decides when, how, and at what cost... you are allowed to get "your" money. >>
You always have a CHOICE not to invest in them. If you don't like it
invest your money elsewhere.....If your employer has a forced 401K
throw 1% in and be happy...
You never know later in life what that
1% will buy you...
A couple packages of Depends maybe....
<< <i> GM, F are at 50 year lows, like going back in time.
Scott >>
Except for the fact that 50 years ago, Ford and GM had gleaming bright futures. Now, not so much.
My icon IS my coin. It is a gem 1949 FBL Franklin.