Why do you disagree. There is nothing in my technical analysis that is inconsistant with your view. If we are going to have volatility, by its nature that requires the market to go up and down. Not just up. Right now we are in a near term down move, I don't know how long it will continue or how far it will go, but every bull market has these periods. Since I sold out last week, I have most of my trading cash in tact and I will be able to buy again, hopefully at lower prices, and maximize the return on my money.
<<Don't you remember when gold went to 800.00 ? There were moves of 20-40.00 a day. I remember this and was and am hoping for an extremely disorderly market where the manipulators lose total control of the market and even CB intervention gets eaten up. It won't take much. Nothing attracted people more to gold back then than the wild swings which made the news.>>
I think that if you go back and look at the charts, the greatest volatility preceded the top, proving once again the old maxim that tops are volatile and bottoms quiet. I have found this to be a good rule of thumb. Do not let you political prejudices blind you. The market is not a debating society, it is a place to make money. I am sure that if you use a buy and hold strategy you will do well and I am just as certain that my technique of trading will also do well.
But ask yourself this question, Ralph, when the gold market tops will you ride it all the way back down, or will you recognize that market move two ways and take your profits?
Your post suggests to me that you think that gold will go straight to the moon. Markets rarely, if ever do this. If they are bulls, they go up, retreat and start back up. In my view that is what is happening now.
I have stated what I believe the immediate downside targets to be, based on technical analysis. This enables me to put aside any bias I may have and remain objective. I think you will have to admit that since I have been on the thread, I have been right most of the time and when I was wrong I was quick to recognize that fact. That is what technical analysis allows you to do.
Little joe |
