Hi, Michael & Welcome! T/Y for your kind words re: my postings. Wisdom is a goal never an end, and I'm always open to more learning from others more experienced than I.
1st, I'll answer your Website request: worldaccessnet.com
To trade in markets, on has to have short, intermediate, and long term views.
Those three provide a limited number of possible play combinations.
For example:
Short term I am cautious, intermediate term negative, long term positive.
Therefore, I'm shorting all rallies at this juncture, ESP. gold stocks. Furthermore, fundamentally, there is a tidal wave of mining consolidations about to take place, and the mktplace very seldom will acrete value to the acquirer, also limiting upside at this point until the peak of this phase passes.
It is so simple to understand but so hard to discipline oneself to pay this way: lows and highs are ONLY known by history.
One can be early and get financially wiped out, one can be late and also get wiped out. My goal has always been to take what I know, take my slice out of the middle, yes of an ESTABLISHED trend, and leave the gambling to others.
That being said, I became bearish when XAU hit the 142 area and ran into what I called the bubblegum zone. At that point I've been consistently shorting the market, and have seen no reason, as far as stocks go, anyways, to change my tune.
I have 3 types of "bottom formations" I look for in my techical analysis work in charts:
the rounding bottom, some call "bottom of cup"
the "W" shaped bottom which is a low and a retest of said low,
and the other is a blow-off or "V" shaped, give it up folks, the game is o'er type of action.
We haven't seen a V, of that I'm DAMN sure!
We may see a rounding bottom. If so, there is PLENTY of time to get in on the upcoming rally.
A "W" bottom formation is the most reliable, and can be "safely traded" if there is such a thing as safe trading(g) by a buy stop at a trigger point...
Rallies are always accompanied by significant volume, and I don't mean one or 2000 shares in a 2 million share trader, but SIGNIFICANT volume.
I will also hear about it in the physical gold circles within which I walk...
i.e., the dealer bigger'n me calling me for gold inventory because the dealer bigger'n him calls HIM for gold inventory, because the next bigger fish above him is out...etc., etc., etc. This is more often known as the feeding frenzy.
I lived through it, as a bullion flipping bull in the 70's,
had great fun,
made good money,
mostly in canadian 80% junk silver at the time,
know what it smells and tastes like,
and am young enough but with more resources this time to "do it again(grin)"
I also shorted the XAU rally big time in the mid 80's when spot silver went nuts and ran to almost 11.00 in one day's time for no reason! So did others in the brokerage house where I hung out. Twas fun then too, but from the short side.
In this game, the patient are rewarded,
...those with assinine Q's will be left pickin' their noses
and trying to bloody everyone else's.
Pick your metal,
create your plan,
and don't listen to the pseudo trader/investor dunderheads
who wouldn't know a gold rally if it sat next to them on a city bus!
Oh, and one more thing, new cyberthreader,
be sure and ask ANY who are giving gold advice where they were,
what they were doing on the last gold spurt to 800...
if they sold somewhere between 500 and 800,
or between 32 and 52 in the silver market!
Then if they answer you right, then listen up...
...if they missed the whole thing, tip your hat and walk away.
...if they can't provide any references to back up their gold-bull stories from that time period, then properly label them gold bullshi**ers, and leave 'em where they drop.
Truth has a certain ring to it,
...some "bells" on this thread just don't have a clapper!
Mute'em!
Good Luck and God Bless
O/49r |
