Short Gold, now

Short gold - what a joke! Is that called "funnymental analysis"?

Gold is in a major long-term up-trend and you want to pick the top. Are you crazy or just some regular IM guy?

Please post more of your financial advice, this is really funny stuff. I hope you can afford it.
 


Godspeed said:
How much $ invested are we talking about here if you can afford >10% loss?
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6-figures

Despite the early sharp rise this morning that had all the haters chuckling, afternoon trading was much kinder to me. I actually gained few pennies, but mostly closed unchanged from yesterday's close after bouncing around. I feel good about tomorrow, think I'll make up more ground, and hopefully be in the black by the end of the week.

In hindsight, Andrew_Scherer is probably right, out the gate I should have had tighter stops for when the trade started moving against me so early on, but right now I'm only down a few percentage points, so I can afford to wait and see.
 
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Oh my sweetness, you aren't really shorting any commodity at the beginning of August are you?

Check the history of junior markets. This is really betting against the trend.
 
BeerNuts said:
Stocks crashing like all hell, and gold going with it. You might actually get lucky here. I am impressed.
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Ya, though "lucky" is relative, since all my longs are getting crushed along with the broader market. My GLD gains today won't even come close to covering those losses.

OH well, Tomorow, tomorrow.... ;)
 
With 30 minutes remaining in the session, the Dow is staring at a loss of more than 400 points, and has now erased all of its 2011 gains. Oil plunged, gold is lower by $12 an ounce and the yield on the 10-year Treasury has fallen to 2.45%. The Nasdaq Composite is off 109 points, or 4.1%.
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hrmmmm
 
BeerNuts said:
Stocks crashing like all hell, and gold going with it. You might actually get lucky here. I am impressed.
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Dow Jones11,405.21 -491.23 (-4.13%)

yH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
S&P 5001,202.44 -57.90 (-4.59%)

Nasdaq 2,563.79 -129.28 (-4.80%)

Gold down 0.91%
 
loyolabenson said:
Dow Jones11,405.21 -491.23 (-4.13%)

yH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
S&P 5001,202.44 -57.90 (-4.59%)

Nasdaq 2,563.79 -129.28 (-4.80%)

Gold down 0.91%
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In my defense Gold did hit a low of 1642 today, 0.91% in the end may not be much of a loss today. But it is rather strange that the market would fall 513 points and Gold actually go down. Hell I would have figured Gold would have gone up like crazy on a day like this.
 
BeerNuts said:
In my defense Gold did hit a low of 1642 today, 0.91% in the end may not be much of a loss today. But it is rather strange that the market would fall 513 points and Gold actually go down. Hell I would have figured Gold would have gone up like crazy on a day like this.
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no, it makes perfect sense. the dollar was gaining due to the debt deal (aka austerity bill), so the market went down. market goes up on a weak dollar.
 
Buy the fucking dip on Gold.

Short the dollar.

It's not rocket science. In fact it's free money.
 
Hmmm....looks like a few people agree with the OP: Gold, Silver Decline as Equity Rout Spurs Sales to Raise Cash

Dennis Gartman, an economist and the editor of the Suffolk, Virginia-based Gartman Letter, recommended that clients cut their gold positions by half.

“Given the circumstances prevailing in a world that shall put a premium high upon liquidity, we think it is wise to liquidate our gold holdings ahead of everyone else,” Gartman said in the report. “The highs seen yesterday shall not be taken out for quite some long while.”
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Next week should be interesting...
 
Everything is a bubble to some degree, everything that has a gold rush to it. Affiliate marketing is a bubble. As soon as consumerism goes to shit that's when the shit really will hit the fan.
 
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