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GLD (Paper) will go Lower - Week & Day Chart

COINB0YCOINB0Y Posts: 4,505
in Precious Metals
Soon, Boys, Soon!

The de-hedging and forced liquidation is almost over!

Let it come to you with this retrace and then **BLAM**off to the Races, with power and in force! Buy hand over fist, both 'paper' and the physical!

The Fiat Money Supply has just exploded and as soon as the Libor rates ease, Fiat will be back to 'sloshing' around and making inflation shoot up even higher.

All due to the massive Fiat injections made into the Banking systems accoss the Globe!

Weekly Chart:

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Daily Chart:

We need to see RSI lower, under 30 and that gap to fill, first.

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    COINB0YCOINB0Y Posts: 4,505
    added 2nd chart
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    ProofCollectionProofCollection Posts: 5,460 ✭✭✭✭✭
    I have to say I disagree about the gap filling. Since gold trades almost 24 hours/day, it's kind of irrelevant if the ETF gaps up or down with its limited trading hours.

    $790 is a good spot to get in. It will likely test this level several times. Good spot to get in before a $210 ride!

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    COINB0YCOINB0Y Posts: 4,505
    I am strictly talking a non-deliverable ETF Fund, i.e. the GLD.

    This is not a Gold Deliverable Futures chart!! , nor is it intended to be one.

    I look at it this way, many Sellers on EBay gage the BIN sell price based on the price of GLD, Kitco's Futures Chart and/or a combination of such.

    For example, I bought an NGC Graded 1/2 ounce Eagle Coin this morning on EBay with a 30% MSN rebate at around the time GLD hit $77.22. The guy had just listed it and I got lucky and I managed to get for the equivalent price of $700/ounce.

    Still, I think Gold goes a bit lower based on my Charting, so I just share it here.

    Charting works for me and is rarely wrong, especially with the metals. I time my buys and sells based on my Charts.
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    ProofCollectionProofCollection Posts: 5,460 ✭✭✭✭✭
    I agree that charting works and I use it myself, but the rule about gap filling has exceptions and this is one of them... GLD is for all intents and purposes the same as gold futures which is basically the same as spot gold - they all track very closely. I just don't think you can consider it a gap that will be filled is all. I could be wrong...
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