Waiting for the big Kahuna Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: carranza2 who wrote (87642)	5/30/2009 3:32:37 AM
From: Real Man	Read Replies (1) of 94695

Yes. It's a short term options trade, as usual, and here is the trade setup. I'm a trader in a trading account. I unloaded 1/3 of my miners as well, in addition to unloading some 20% of miners in February. I still hold a boat of gold miners since I was buying last year into decline, and really loaded the boat when gold stocks crashed. I also had call options on XAU at that point in my trading account. I did not unload any gold and silver, nor do I plan to, but lately I have been selling miners into this rally. -g- The trade setup: HUI had 2 large gaps and hit 400 strong resistance Yesterday. It is likely the gaps will be closed. While I'm not a good gold timer, bad timers are bullish and excellent timers are bearish, which has me concerned. Rarebird predicted the gold crash last year. He is predicting a significant slump this Summer as well. Ditto Mark Faber. You ask why? Economic recovery, or green shoots, or whatever. Gold is a weird metal. It does not always like it, and my sense is this time it won't. I am bullish on gold longer term, but I anticipate a significant correction in the next 2-3 months. Message 25680365

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next