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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (4577)	2/26/2007 1:05:39 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 50528

re: ["are you currently short gold and / or gold shares?"] I think I've posted this chart about 17 times. If it ain't broke -- I don't try fixing it. Now, given the TIC data that just came out and the speculators pushing gold after oil's (perceived) rally... I'll give the move a little more upside (raising stops up tightly) within that upper band (shown below) before cashing out calls and adding more puts. I have both open longs & shorts on both metals and stocks. I'm usually more weighted to Silver on the long side and Gold on the short side. Since the May '06 exit call -- we've had 4, or 5 nice, easy moves from HUI 300 or below...up thru HUI 350 and above....and back down again. Rinse, Wash & Repeat. That's 150-200 nice and easy index points...after and on top of -- the May exit. And the May exit came after this: From Sept. '05 to May '06 Palladium doubled. During the first 6 months of the trade it tripled the move that gold made during the same timeframe. Gold would have had to move from $450 to $900 to equal it... it still hasn't come close ...and the Palladium trade is all banked. Silver doubled golds returns over the same timeframe: The Silver/Palladium outperformance is banked...and instead of riding a 10 month violent correction...I've been able to pick up 180+ points in that nice little rolling wave trading range. Gold needs to see Uncle Jimmy's $1686 Angels to match that and I don't have to worry about giving it all back. You can buy & hold if you want... but, these consolidation phases (red circles) have been a traders dream and they are more prolonged with each new upleg of the cycle: On a time basis... this corrective phase could easily last another year. Funny how you couldn't find a buy and hold gold bug if your life depended on it in June...but, now they're multiplying like bunny rabbits. 'bugs -- remember to "hold tight." Rinse, Wash & Repeat, Slider