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gold bulls say time to cash in, rally overdone

goingbrokegoingbroke Posts: 1,410
in Precious Metals
NEW YORK/SINGAPORE (Reuters) - As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far, too fast in recent weeks. investors should stay put and not add new gold positions at current prices

"Gold being as volatile as it is, it can go down in $100 to $200 and not really blink an eye,"
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Comments

  • OzzyAndyOzzyAndy Posts: 344
    but if it does go down $100 or $200 then it's still a bull market, still looking well up from a few weeks ago.
    Still thinking of what to put in my signature...
  • ttownttown Posts: 4,472 ✭✭✭
    The world is overdone, this has nothing to do with charts or moving averages. Good news it goes down, bad news which there's been much lately is goes way up, neutral is inches up as it's done for the most part of 10 years. When we get a real fix for our economy they can say it's overdone but not while the printing presses are full steam ahead, gold just hanging around while the dollar is the one that's really overdone IMO. Although these Wallstreet types think they can just put out a message to the masses and have them buy and sell in step, guess what I have a feeling that's not going to work real well for them in the future and the little games they play our going to come back and bite them.
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    The world is overdone, this has nothing to do with charts or moving averages. Good news it goes down, bad news which there's been much lately is goes way up, neutral is inches up as it's done for the most part of 10 years. When we get a real fix for our economy they can say it's overdone but not while the printing presses are full steam ahead, gold just hanging around while the dollar is the one that's really overdone IMO. Although these Wallstreet types think they can just put out a message to the masses and have them buy and sell in step, guess what I have a feeling that's not going to work real well for them in the future and the little games they play our going to come back and bite them.

    I tend to agree with you, ttown. I agree 1000%.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • pmcollectourpmcollectour Posts: 1,211 ✭


    << <i>As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table ] >>




    image
  • BigRickBigRick Posts: 1,334
    Don't think so but puts are cheap so buy some. Of course everything could change Friday.
    My Sets
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Maybe the Fed will get into the RE business.
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "gold bulls say time to cash in, rally overdone"

    Man, they should have told the guy that took out a two full page buying gold ad in the paper for today.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    It's never a bad idea to take some money of the table if you are way ahead of the game.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ttownttown Posts: 4,472 ✭✭✭


    << <i>It's never a bad idea to take some money of the table if you are way ahead of the game. >>



    Maybe. That is if your buying an investment and not insurance.

    The following was posted August 11th as Gold passed $1764. Sinclair below offers this advice, traders lighten up as we approach the next two angles, we'll we we're there. HOLD for hedge. Again the biggest gains are ahead in my mind, this thing has gone no where near parabolic but it would be risky at this stage in the game to buy and sell 1/3 just to make a few bucks or more than likely buying in at a new high or missing the boat you've waited so long for.

    For me paper PM's are for trading, physical are for holding or selling as needed over time. Dumping physical PM's at a B&M will always get you the least amount of money and buying it back latter it's hard to make a dime unless there is a huge move. JMO


    SINCLAIR:

    Dear CIGAs,

    1. Those holding gold to hedge the systemic risks of the Western financial world simply stay in your position.
    2. Traders lighten up your positions as gold approaches the next two Angels.
    3. No market fails to have reactions at some point.
    4. Reactions in this market will be deep, but brief when they occur.
    5. The undervaluation of good gold shares has passed manic.
    6. Utilization of some of your gold profits into good gold shares is pure logic.

    Respectfully,
    Jim
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Maybe. That is if your buying an investment and not insurance. >>



    You hit the nail on the head with that comment. I do not consider Gold as an insurance policy nor savior from a SHTF scenario... Having said that, it's always been an investment tool for me, that has been very successful over the last 10 years.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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