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Politics : Welcome to Slider's Dugout

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To: ecrire who wrote (3876)	11/28/2006 10:18:46 PM
From: SliderOnTheBlack	of 50729

re: ["the nefarious actions of world central banks and their bullion bank allies who always find ways to trap unsuspecting gold bug longs."] Now wait a minute. Bugs (just like lab rats) do a damn good job at trapping themselves...all by themselves. They don't need any help from central banks. Here's a perfect example that came up today... How many permabull gold bug newsletter writers & pundits banged the drum this summer... on how bullish it was going to be for the price of gold -- that Central Banks had failed to sell their full quota of bullion under the Washington Accord? If I read it once... I read it twenty times. Yet today, someone brings me a copy of one of the most widely read pro-gold newsletters, where the editor blames the recent smackdowns of gold prices on Central Bank selling? No wonder gold bugs are suffering from whiplash & neck-pain. That also begs the question on where were the Russian and Chinese Central Banks? Once again -- how many goldbug newsletter writers were also pounding the table that the Russian and the Chinese Central Banks were going to be dumping dollars and buying gold...and that gold was going to the moon? Why weren't the Chinese & Russian CB's backing up the trucks when the French were selling? (more on that in a few minutes...) Wasn't it the Central Bank buying that was going to drive gold thru $1658, $2000 and ultimately to the repricing of 1980 dollars, to an inflation adjusted $2158? Wasn't that why bugs were told to "HOLD TIGHT" ? And how about the "Chinese ETF"? Remember that (vbg)? Markets change, but people never do. The market wasn't the best risk:reward trade here of late -- people were. They nearly always are. And the trade was not a bet on whether gold was going to go to $900, before it went to $500...because it didn't matter. That's right. "IT DID NOT MATTER!" It was much simpler than that... The trade wasn't directional. The trade was movement. You didn't have to bet on which direction the lab rats would run... only that they would run. The trade was what it always is in cyclical transitions: ...a trade on VOLATILITY itself. Would you all like to see what I call my - "Vince Lombardi: This is a Football" Chart? Lombardi opened every single training camp with the same speech on day one. It started with: "Gentlemen, this is a football." While the simple, basic fundamentals are nearly always ignored... they nearly always work. The gold market of late only required the simple, basic fundamentals of trading and one simple chart. Yes, just -- one chart. It's really the only chart you've needed to make boatloads of money for the last NINE months in the gold market. And it's a helluva lot easier to comprehend than "Mr. X's" mumbo-jumbo (vbg). Would anyone like to see... "Vince Lombardi's -- This is a Football" chart? SOTB

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