Gold Alert!

Short-term traders exit long position on a RED Daily “Trade Triangle” @ $1,380.14 today and remain neutral for now.  This short-term trade produced a Loss of $14.26 an ounce.

Intermediate and long-term traders hold long positions.

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27 thoughts on “Gold Alert!

  1. Comments here are definitely screened - as I'm sure this one will be - to massage the message in the direction INO likes. Shame on you.

  2. One of the reasons I posted was to see if I got negitive feed back like Derek did when he tried to sell a good investment. To me it sure looks like gold is @ or near a historic high but it makes me wonder with the lack of negitive feed back for my negitive post on gold. (Maybe they were screaned out) How good is gold for barter when it could become illegal to own, the profits could be taxed to death & most cant tell if it is counterfeit i.e., an experiment was done to see if real gold coin worth around a thousand dollars could be sold to the puplic for 5 bucks by an individual that said he needed the money. From about 20 individuals he aproached he had no takers.

  3. It seems to me that any of the short-term traders relying on alerts from this - or any other website - ought to just read the markets themselves or take mid to long-term positions. These alerts are going to be on at least some sort of lag and the best opportunity to buy and sell is missed by the time you get them. If you're not able to make the trades based on your own judgement, then perhaps short-term trading isn't for you.

  4. dear short term traders,dont panic and swap ur rare gold with lesser value paper money.this is a temporary dip.fed is printing money as much as it wants ,but gold demand supply ratio is in deficit.this will drive the prices up higher and higher each time.each dip is a chance to add positions without overloading.u should always have enough margins to 200DMA

  5. I remember 30 years ago when i was just 19 yrs old and knew nothing about gold or any kind of investment,i was unemployed and had just went down to London looking for a job. I stayed for a while in a hostel in the Notting Hill area and eventually got a commission only job selling long-term tax friendly savings plans to students and people starting out in life. I tried everything to sell those plans but i was not making any money so i quit. One of the main reasons i quit was the teasing i got from fellow hostel residents who were primarily in low paid civil service jobs,they teased me about my job and how it was worthless and the savings plans were worthless etc etc etc.
    Well i just wish i could see their faces now that gold has rocketed in value. Indeed, i have just worked out the "today surrender" value of some of those "nonsense" savings plans i used to get a ribbing about. One £50 per month plan has a cash value now of £140000 and a £200 per month Gold savings plan has a value of £635000. I would give a small fortune to see the reaction on their pathetic faces having had the opportunity to make an absolute killing yet they chose to squander their money on booze,cigarettes and rearing a large family they can no doubt ill afford to keep.

  6. The two week pattern shows a Lower High & a Lower Low,
    so I'll wait for a reversal of that pattern to get back in.
    The way the Fed manipulates the dollar, one has to be careful in the swings & channels.

  7. Using (put)leaps as far out in time as possible & deep enough in the money to have a delta around 80 I think lowers the risk. I will roll them over @ least 6 months before exploration. This method will reduce time decay of options, Market moves against you delta becomes lower & if market moves your direction delta will become higher as market rallys.80 seams be be a sweet spot between a balance of time decay & having the delta drop quickly if market goes against you. I risk very little if Iam wrong interest from GICs will still give me a positive cash flow after living expenses

  8. Last daily alert on gold, as far as I know, was to exit the position.
    Now you're saying to exit the position again???

  9. Your a brave man Darren. "I recently shorted gold & silver for a position trade"."Position trade" meaning "buy & hold" on a metals short?
    Hope this works out for you, although trailing stops could save your ass if we are not really in a deflationary period.

    My take is that we are in a Hyper-stagflation period.
    Fixed or falling wages,lack of pricing power for what we produce, rising consumption costs for what we don't produce (energy, food, etc.),higher borrowing costs & devaluation of the dollar (it could briefly go up against the euro if/when they stumble).

    Its' too easy to extrapolate the de-leveraging of real estate into a general deflationary environment.
    Real estate is a unique situation; massive banking fraud, government corruption/collusion in accounting fraud, a still opaque and under-regulated insolvent international financial structure and a captive accommodative federal reserve.

    Listen to Adam. Long gold is up.

  10. Gold now at $1,365.60 -1% today.
    Kinda hard to get enthusiastic about shorting Gold these days.
    Too many eminent screw-ups could trigger a sudden price hike.

    That said, the punditry press is predicting we could see $1,325 or even a brief break down to $1,250 without gold price trends being considered in a long term bear situation.

    Cycle followers are claiming brief down cycle, maybe into mid January.
    I anticipate more downward price spikes, especially through the low volume trading holiday season.
    However, even through the silly season, I believe that any price dip to the $1,250 price zone will be brief.

    Anyone watching silver? Now at $28.54. Pundits are saying could dip to $25-$22 area. I wouldn't put it past "The JP Morgue" to engineer a little holiday cheer to their silver short portfolio.
    What say U?

  11. The idea of this style of trading is to ride major trends for big profits, and to avoid big losses. As a result, when markets are choppy, you can get whipsawed. The last alert was about a $15 profit, this was a $15 loss. More importantly, they caught much of the recent big move.

    Most of the criticisms here come from people who use another style of trading, such as trading based on longer term fundamentals (which works great, when you have it right), or traders using what I call market-maker style - buying low/selling high within a range (works in choppy markets, but misses big trends). Everyone has to find a style that works for them.

  12. It will be interesting to see if the 2001 lows will hold now that deflation is with us. If the 2001 low is broken I will be looking to go long around $100

  13. Short term trades get whipsawed like this all the time. Especially with the metals up here. Longer term -months to a year gold will continue it's run. It is probably dead money here for the next few months. If you have a long gld position, I would sell some $1450 upside Jan or march calls to generate a nice 5% return. Worse thing would be that you get cslled away for a 5% + 6% capital gain fro here.

  14. I recently shorted gold & silver for a position trade because it seamed to be a rational position to take.

  15. Adam makes it clear, this is for short term traders. Why does everyone come on and argue the long term gold argument. Triangles are still green for long term gold. ??????

  16. Like little children who can't wait for Christmas?
    Take the year off and wait for your buy signals!

  17. gold traders,do whatever u want now,but return to ur full load longs before beg of next year,otherwise u will be missing the next bull wave that will drive the prices to the 1460 area.merry xmas and happy new year.

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