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time to buy gold?
06-21-2013, 03:51 PM
Price is around 1290s. Went as low as 1277 yesterday. Good dip to buy and play the bounce? Not so much the actual metal but derivative products such as GLD.
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 05:43 PM
Unless you are a very nimble daytrader I would avoid it all together
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time to buy gold?
06-21-2013, 07:07 PM
From a purely technical standpoint it looks horrible and will probably go lower. Im personally waiting for DOW to crash. The slight downward hiccup was on Bernacke saying they MIGHT taper QED.
Ill buy gold after DOW is having a real crash.
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time to buy gold?
06-21-2013, 07:15 PM
Quote: (06-21-2013 05:43 PM)gsinplaya Wrote:
Unless you are a very nimble daytrader I would avoid it all together
I'm thinking position trade. Hold time: 2+ years.
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 07:21 PM
Quote: (06-21-2013 07:07 PM)_DC_ Wrote:
From a purely technical standpoint it looks horrible and will probably go lower. Im personally waiting for DOW to crash. The slight downward hiccup was on Bernacke saying they MIGHT taper QED.
Ill buy gold after DOW is having a real crash.
This current dip from the all time high is much bigger than the dip gold took during the '08 crash. However, from a purely short-term technical standpoint, it is on a downward trend.
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 07:30 PM
Quote: (06-21-2013 07:24 PM)gsinplaya Wrote:
Quote: (06-21-2013 07:15 PM)Leo Wrote:
Quote: (06-21-2013 05:43 PM)gsinplaya Wrote:
Unless you are a very nimble daytrader I would avoid it all together
I'm thinking position trade. Hold time: 2+ years.
I'd rather buy whats in an uptrend and showing relative strength if you want to position trade something over that time period. A stock like GOOG is the first that comes to mind for me.
I don't see any technical reason to buy GLD here for an investment.
You really don't think gold is on a long term uptrend and this is just a correction?
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 07:36 PM
Leo, its this simple: the spot price is a concensus of every person who holds gold to its price. Back when it was at 1800 every article that came out and every Joe blow with some cash to burn was buying, especially after the 2008 crash.
IMO were just seeing a big correction, as all that positive sentiment has fallen out, as evidenced by the strong trends. First all positive, now all negative. You wanna but gold when everybody is pissed and its the "worst investment possible"
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time to buy gold?
06-21-2013, 07:43 PM
Quote:Quote:
You wanna but gold when everybody is pissed and its the "worst investment possible"
Exactly. I'm going "against the grain" so to speak although there's always the other side of the trade so everybody will never be on the same side. Might even average in if it goes lower.
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 07:58 PM
Quote: (06-21-2013 07:44 PM)gsinplaya Wrote:
Quote: (06-21-2013 07:30 PM)Leo Wrote:
Quote: (06-21-2013 07:24 PM)gsinplaya Wrote:
Quote: (06-21-2013 07:15 PM)Leo Wrote:
Quote: (06-21-2013 05:43 PM)gsinplaya Wrote:
Unless you are a very nimble daytrader I would avoid it all together
I'm thinking position trade. Hold time: 2+ years.
I'd rather buy whats in an uptrend and showing relative strength if you want to position trade something over that time period. A stock like GOOG is the first that comes to mind for me.
I don't see any technical reason to buy GLD here for an investment.
You really don't think gold is on a long term uptrend and this is just a correction?
GLD intermediate trend broke at $161 - then macro at $148.50. There is no telling how low it will go
It's times like this that separate the men from the boys
- really though, does anyone ever know how low/high a price goes? I'm even tempted to avg in. And tbh, I'm just putting in a little play money.
I don't hit on girls much, but when i do they melt.
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time to buy gold?
06-21-2013, 08:46 PM
Quote: (06-21-2013 08:31 PM)gsinplaya Wrote:
Quote: (06-21-2013 07:58 PM)Leo Wrote:
Quote: (06-21-2013 07:44 PM)gsinplaya Wrote:
Quote: (06-21-2013 07:30 PM)Leo Wrote:
Quote: (06-21-2013 07:24 PM)gsinplaya Wrote:
I'd rather buy whats in an uptrend and showing relative strength if you want to position trade something over that time period. A stock like GOOG is the first that comes to mind for me.
I don't see any technical reason to buy GLD here for an investment.
You really don't think gold is on a long term uptrend and this is just a correction?
GLD intermediate trend broke at $161 - then macro at $148.50. There is no telling how low it will go
It's times like this that separate the men from the boys - really though, does anyone ever know how low/high a price goes? I'm even tempted to avg in. And tbh, I'm just putting in a little play money.
Sounds like gambling to me ...but yeah i get it. All good.
If i wanted to hold something for 2+ years with a bit of play money I'd be buying up LEAPS in the banks e.g. BAC $15 2015 Jan Calls.
You can sit back and watch that option go up 100%+ over your timeframe IMO
Thanks for the tip. I'll look into them. The way I see it, I'm just planting some seeds but w/out the care & maintenance.
I don't hit on girls much, but when i do they melt.
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