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Re: October gold and silver trading thread ***
I tried an entry point yesterday when AUY was around 11.20-11.30 and by the time I got around to punching it, it was already at 11.50. So decided to pass. Today it's up around 12.25. PC mentioned the brief pullback this morning from $1058 to $1042 gold and by the time I blinked, it was already gone and back at 1050. It… -
Re: October gold and silver trading thread ***
Gold is consolidating kind of like it did the previous couple of levels (1005, 1018, 1021). There's kind of a penant forming around a centerline of 1040.5. Volume was up nicely today to confirm the move. Support is at 1025, 1035, and resistance is at 1053, 1063, and 1091. Based only on the resistance levels and my… -
Re: October gold and silver trading thread ***
The consolidation continues. It's a bit premature, but I can see a penant formation starting from the high on Wed at 1072. We'll have to see if it sticks between ~1054 and ~1067 from here on out until a breakout. I'm going to try to play this range with a small percentage of my position. I'm not expecting much for Wed,… -
Re: October gold and silver trading thread ***
The YuYang guys called it right on with the gold bottom Wednesday and a recovery today. I was sweating out my gold stocks this past weekend. In any event they moved up sharply this morning and I cashed a bunch of them out. IAG went again but only for 6% this time. It went along with the AEM went as well as gold exceeded… -
Re: October gold and silver trading thread ***
Today's move was confusing. The dollar was pretty much down to sideways, and the stock market was up. This *should* have meant an up day for gold, but we got the opposite. I'm not sure how this is going to resolve over the next few days. This could be a fake out with some pent up chart energy ready to release and send gold… -
Re: October gold and silver trading thread ***
Rick Ackerman commented on the Kansas article and put it in perspective well: Ackerman The one thing here that concerns me is that Geithner is once again saying something we haven't heard for a long time: Geithner: We'll Do Everything To Save The Dollar Geithner Says ‘Very Important’ to Have Strong Dollar I'm not sure what… -
Re: October gold and silver trading thread ***
<< <i>It aint gonna be today or tomorrow. Dollar pessimism reached extremes. Now they call this just a "technical" move. As a technician, I am LMAO!!! >> Good... I saved several $$$ waiting until late this afternoon to make my fractional Gold eagle purchase via APMEX....lets hope it stays below $1050, until after… -
Re: October gold and silver trading thread ***
I'm not sure there's more weakness to come, but I'm not sure we're ready for more strength quite yet. I expect the consolidation to continue for maybe another day, but we're almost consolidated now. The consolidation has been very tight and very bullish, holding firm at 1046-1050. I'm still "all-in" with a full position,… -
Re: October gold and silver trading thread ***
I was a little disappointed to see gold sink back below 1050 tonight, but it is not bearish. The charts are still loaded and ready to punch higher. I think it's yet another good opportunity to add to positions right now at 1050. There have been 2 attempts at 1060 now. I expect the next attempt to be successful. I think… -
Re: October gold and silver trading thread ***
If the Japanese have taken a dollar position are we sure it's not a carry trade type position where they will place the dollars into assets earning a higher yield (stocks, bonds, commodities) just like everyone else is doing? The volumes finally shifted to the upside today on the miners as well as GLD/SLV. About time. So…
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