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Registered User
Joined: 4/7/2011
Posts: 69
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No doubt you guys have seen what happened to gold and silver. I personally think that soon we'll have the chance of a lifetime, I am waiting for the GLD to go down to around 152 and then I am putting EVERYTHING on UGL and planning to keep it thorugh next year.
I think there is no way gold is going to stay down for too long, it will be up big time early next year.
Is anybody else thinking about Gold and if so, what would you consider it to be a good buy point?
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Hi Mcubas,I don't believe in once in a lifetime chances. They seem to come around once a week in the market. I definitely don't think putting EVERYTHING into ANYTHING is a good idea. It creates too much of a bias. Looking at the GLD chart I see a massive change in trend from up to down that could take time to play out. I see no reversal pattern in place from down to up so you're catching a falling knife here. Lastly, whenever I catch myself thinking "there's no way (insert ticker here) can go up/down any further" I check myself big time and take a very close look. But anyway...there's two sides to every argument. Just offering my opinion. Good luck in your tradeDavid John Hall
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Registered User
Joined: 2/5/2006
Posts: 1,148
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the chance of a lifetime in gold was about 10 years ago, after being out of favor for about 20 years.
gld just gapped down through the neckline of a doubletop on large volume.
not something i'd want to buy into.
but its still above the 200 day ma. so after volume drys up, a tradeable rally emerge.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Sung to: Life House-Love of a Lifetime
I finally found a trade of a lifetime,
A trade to last my whole life through.
I finally found a trade of a lifetime,
Forever in my heart, I finally found a trade of a lifetime.
Thanks
diceman
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Registered User
Joined: 1/28/2005
Posts: 6,049
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 QUOTE (diceman)
Sung to: Life House-Love of a Lifetime
I finally found a trade of a lifetime,
A trade to last my whole life through.
I finally found a trade of a lifetime,
Forever in my heart, I finally found a trade of a lifetime.
Thanks
diceman
Whoops!
Shoulda been Fire House
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Registered User
Joined: 7/1/2008
Posts: 889
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the measured move from the double top pattern takes gold down to the 200 day...there's always corrections in trends,and unless the world is about to solve the deep structural debt problems while exiting the zero interest rate fed policy, then the fundamentals are still intact for gold.
That said, if you got enough money to worry about, then you'd never want to put it all in one thing.
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Registered User
Joined: 6/6/2005
Posts: 1,157
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LOL Diceman - so funny!
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Registered User
Joined: 12/31/2005
Posts: 2,499
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Once in a lifetime... hmmmm
Now suppose through genetic engineering one could evolve a bacteria that could matabolize gold. Then one would just need to seed ore samples that are too expensive to process using today processes and extract the gold enriched bateria at a greatly reduce cost. This would expand the availabel reserves as many more ore fields would be viable sources.
Or through the use of nanotechnology one could create a carbon fiber tube flter that would absorb gold and then all one would need to do if filter sea water for the dissolved gold or any other sources with dissolved gold more efficiently with the same effect.
Or some other yet to be conceived approach...
With the potential advances in improving extraction methods the world's gold supply could be significantly altered, that is improved, with the obvious impact on price. Tell me what and all your eggs in one basket gold position would look like the day after some drug company or nanotech company make such an announcement.
That would have been once in a lifetime opportunity to short gold.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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QUOTE (jas0501) Once in a lifetime... hmmmm
Now suppose through genetic engineering one could evolve a bacteria that could matabolize gold. Then one would just need to seed ore samples that are too expensive to process using today processes and extract the gold enriched bateria at a greatly reduce cost. This would expand the availabel reserves as many more ore fields would be viable sources.
Or through the use of nanotechnology one could create a carbon fiber tube flter that would absorb gold and then all one would need to do if filter sea water for the dissolved gold or any other sources with dissolved gold more efficiently with the same effect.
Or some other yet to be conceived approach...
With the potential advances in improving extraction methods the world's gold supply could be significantly altered, that is improved, with the obvious impact on price. Tell me what and all your eggs in one basket gold position would look like the day after some drug company or nanotech company make such an announcement.
That would have been once in a lifetime opportunity to short gold.
Reminds me of a Twilight Zone episode:
The Rip Van Winkle Caper.
Guys steal gold,
they hide in a cave and have a way to go into suspended animation.
They wake hundreds of years later and start killing each other one by one
over the gold.
When the last one dies (clutching a gold bar in his hand) he’s found by a guy from the future,
who tells his wife: I don’t know why he has this, this stuff became worthless decades ago.
Thanks
diceman
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Registered User
Joined: 3/27/2011
Posts: 56
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In any event, the choice is yours. We have people here telling you to not do it. I personally am up for trading GLD and SLV in the next week or two, but it's not for the long term. The trade could last anywhere from a few days to a few months, but nothing longer than that. I do agree though, that such buying opportunities for a valuable commodity such as gold or silver don't come by every day.
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Registered User
Joined: 6/13/2011
Posts: 88
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Only one thing I like to say PPC - that is what trading the markets is all about. It is not about finding whatever you think is the next big thing. There is always what you think is the next big thing - just like someone mentioned above.
Surviving and succeeding in the markets is all about understanding your risk; Thing that most folks do not fully understand.
What is your risk assesment of your trade? Hedging?
What makes you think that 152 is a good level? Will it go lower? Would it be better at a lower level? or at a lower than the last lower? Will it get there? When can you tell a botton?
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