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  • November 22, 2008 at 9:51 PM #308518
    Chris Scoreboard Johnston
    Participant

    Gold is setting up a major short sale right now, if it can just rally a bit more and have the commercials go to the short side, it will be about as good a sell signal as there can be. Gold has never been a hedge against market declines and never will be. Just study what it has done historically during stock market declines. It is in a downtrend so selling rallies is the correct trade. I could care less about his opinion, as a trader his track record is not good even though he has been right occasionally. Remember he was about 4 years early on housing.

    SP 500 600 I do think will happen before this decline is over, but do not know the timing of that. I am hoping for a sharp rally to short. The PPT last hour move on Friday means nothing big picture.

    November 22, 2008 at 9:58 PM #308052
    peterb
    Participant

    Agree with Chris on this one. Every rally we’ll see for the next year, is a short set-up opportunity. Gold has done well to hold it’s level of decline from $1045 this year. So in relative terms it is doing very well. But to see it actually make a new high and hold it in US$, would be counter to vitually every historical recession/depression event on record.

    November 22, 2008 at 9:58 PM #308424
    peterb
    Participant

    Agree with Chris on this one. Every rally we’ll see for the next year, is a short set-up opportunity. Gold has done well to hold it’s level of decline from $1045 this year. So in relative terms it is doing very well. But to see it actually make a new high and hold it in US$, would be counter to vitually every historical recession/depression event on record.

    November 22, 2008 at 9:58 PM #308441
    peterb
    Participant

    Agree with Chris on this one. Every rally we’ll see for the next year, is a short set-up opportunity. Gold has done well to hold it’s level of decline from $1045 this year. So in relative terms it is doing very well. But to see it actually make a new high and hold it in US$, would be counter to vitually every historical recession/depression event on record.

    November 22, 2008 at 9:58 PM #308460
    peterb
    Participant

    Agree with Chris on this one. Every rally we’ll see for the next year, is a short set-up opportunity. Gold has done well to hold it’s level of decline from $1045 this year. So in relative terms it is doing very well. But to see it actually make a new high and hold it in US$, would be counter to vitually every historical recession/depression event on record.

    November 22, 2008 at 9:58 PM #308523
    peterb
    Participant

    Agree with Chris on this one. Every rally we’ll see for the next year, is a short set-up opportunity. Gold has done well to hold it’s level of decline from $1045 this year. So in relative terms it is doing very well. But to see it actually make a new high and hold it in US$, would be counter to vitually every historical recession/depression event on record.

    November 22, 2008 at 11:11 PM #308057
    SD Realtor
    Participant

    I would have to agree with Chris as well. Especially the statement about gold.

    November 22, 2008 at 11:11 PM #308429
    SD Realtor
    Participant

    I would have to agree with Chris as well. Especially the statement about gold.

    November 22, 2008 at 11:11 PM #308444
    SD Realtor
    Participant

    I would have to agree with Chris as well. Especially the statement about gold.

    November 22, 2008 at 11:11 PM #308466
    SD Realtor
    Participant

    I would have to agree with Chris as well. Especially the statement about gold.

    November 22, 2008 at 11:11 PM #308528
    SD Realtor
    Participant

    I would have to agree with Chris as well. Especially the statement about gold.

    November 25, 2008 at 8:52 AM #308782
    wannabe2077
    Participant

    Gold prices are a function of supply and demand. If people lose all their money in stock market and lose their jobs buying gold is the last thing on their mind.

    Gold will rise only if the government floods the market with $$$. The Feds are stingy with cash – they did back out the initial program to buy troubled assets. Of course they reversed course with Citicorp.

    It is not like the banks are freely lending money.

    November 25, 2008 at 8:52 AM #309152
    wannabe2077
    Participant

    Gold prices are a function of supply and demand. If people lose all their money in stock market and lose their jobs buying gold is the last thing on their mind.

    Gold will rise only if the government floods the market with $$$. The Feds are stingy with cash – they did back out the initial program to buy troubled assets. Of course they reversed course with Citicorp.

    It is not like the banks are freely lending money.

    November 25, 2008 at 8:52 AM #309171
    wannabe2077
    Participant

    Gold prices are a function of supply and demand. If people lose all their money in stock market and lose their jobs buying gold is the last thing on their mind.

    Gold will rise only if the government floods the market with $$$. The Feds are stingy with cash – they did back out the initial program to buy troubled assets. Of course they reversed course with Citicorp.

    It is not like the banks are freely lending money.

    November 25, 2008 at 8:52 AM #309192
    wannabe2077
    Participant

    Gold prices are a function of supply and demand. If people lose all their money in stock market and lose their jobs buying gold is the last thing on their mind.

    Gold will rise only if the government floods the market with $$$. The Feds are stingy with cash – they did back out the initial program to buy troubled assets. Of course they reversed course with Citicorp.

    It is not like the banks are freely lending money.

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