for chuck and other long time bugs,merry xmas, page-12

  1. 419 Posts.
    re: for chuck and .... dub & nickoo IrJones, you have your methods in playing the gold market whilst remaining mildly bullish, nice, safe and conservative methods without any emotive behind your decisions i.e greed. I do not advise playing stocks that have already appreciated and buying at overbought levels, they are more than likely to be hardest hit if Greenspan decides to execute a currency intervention (very hard to see, but you never know). I had people in LHG at 65c and got them out at 1.30 boohoo missed the extra 30c+.. whoa is me.

    Playing the trend is what it is all about. But you have to realise as a technical analyst there are reasons to be XCited about gold.
    The longer the base in spot gold (3.5 year base on weekly, btw) the stronger and longer the rally will be. The gold bull will last as long as the gold bear.
    Look at the spot oil price basing pattern before it took off, gold is singing a very similar song. I have $45k in specs (and am still accumulating), us$8k in futures and I have a $40k margin lending account that is sitting idle. Gold is overbought that is why companies like LAF, where rapu rapu a high grade polymetallic project in the Phillipines are near production are tasty where debt stands at $600k with an asset to debt ratio of 2.5:1... It smells like teen Chatree.
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