gold hiccup

  1. 9,081 Posts.
    "May 28, 2003

    Market Summary
    Cool Hand Luke bides his time

    Success in gold trading only accrues to those who ignore their emotions and apply sound reasoning in their trading efforts.

    As long as gold's price is contained within its current uptrend and the US dollar as measured by the USDX remains below .945 what are you worried about?

    Let all of you that are ruled by your emotions run over each other heading for the exit. If you are getting antsy, then at least be smart enough to sell into strength not weakness.

    If you, like I, feel we are in a significant move that will see gold test and overcome the $400 level, then there's no need for concern as the key dollar number and gold trend line are right where they should be.

    Might these criteria fail? Sure, but only "Cool Hand Luke" prospers in the gold market. You hold, hold, hold and then exit. If you exit at every hiccup, you eternally pay up and sell low. Only those with a strong view in any bull or bear market end up profiting."

    - J. Sinclair.
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