You are welcome, Michael. Long time followers of my XAU related postings have found I'm better than 50/50 throwing XAU darts(grin) Ed is so very darn good, and so is Mack--when he chooses to post on here. Tom Byron and Searle are avid XAU trackers as well. Yauger has value since he posts his opinion and his squiggles, making the case for Elliot Wave, which I'm familiar with but make NO CLAIMS at being a practitioner of.
I decided several months ago...
after accurately nailing the break in XAU from 107 to below 70
before MACK and ED weighed in in the options market
to start probing the long side.
ABX is my vehicle of choice
now that everyone and their brother wants to own XAU calls...
thereby inflating the premium to healthy write the option strategy levels.
However, my online account doesn't allow me to write options, so I had to formulate another strategy...
Therefore, I picked ABX...
I'd rather play NEM because I like the action there, but ABX has more weighting in the index. Therefore, I keep an eye on the XAU itself for my entries, plus chart ABX with a vengance.
Mack uses a specific Mutual Fund to do his buying and selling of XAU...
I've been at it longer than him, but he's quite statistically/technology buff of the 5 of us best as I can tell.
We have a standing love/hate relationship going which makes for interesting posts and fun repartee(grin)
MACK the Knife's, one of his nicknames, current beef is his erroneous assessment that re-startng the previous SI-XAU thread was for personal strokes. He totally missed the Prodigy posts where a fascinating character, named JoAnn Mager, nicknamed REDCAPE, was promised that I'd revive the SI XAU thread for her to post her fabulous Oscillator reco's. She left PRODIGY for AOL and wanted a place on the net to post her REDCAPE oscillator. She has had fabulous success with it for the last 13 years or so, and is one terrrrrrific XAU and gold futures trader.
So far, she hasn't shown up, but I look everyday, hoping THIS is the day she rejoins us.
ED is a good ole boy, with a heart as big as Texas PLUS a nifty lil system that sure seems to nail XAU timing thing...I have Ed's respect as well, which is important to me. Tom and I are just now getting acquainted, and he seems to be a very intense and dedicated follower of XAU. I like that about him.
We all start somewhere, and pick our vehicle of choice to make the buckos. XAU seems to be "more predictable" than most vehicles...other than buying microsoft at 2.30 or intel at 10(grin)
G/Luck & keep listening/learning...that's the way we all do this!
O/49r |
