TNX for the post, Puma. Although technicals show a berasih
picture on GOLD, my ideas towards a deeper correction tend to make
me look @ gold and USD, both "risk" averse positions. How would you
deal with this scenario?
Posted by dallassteve on 21st of May 2010 at 03:33 pm
Thanks for the nice gold chart, Puma.
I'm serious about this, too. I am not holding any gold
stocks at this time. That being said, I am not selling any of
my physical gold, and looking to buy more (if there is any to be
had) after a healthy pullback.
dpack asked about how gold would do during a deeper correction
in the markets. I am a gold bug, but I am going to wait until
this correction has played out to take any longer-term positions in
gold stocks.
If you're still there, can you share before the close?
After that big gap down and rally up this AM, gold and silver
have pulled back most of the way from today's top, could even leave
an inverted hammer on the daily chart. Matt or Steve, do you
think the pullback is a wave 2 pullback, or rolling over and going
lower?
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TNX for the post, Puma.
Gold Chart -- Wedge and Engulfing candles
Posted by dpack on 21st of May 2010 at 02:39 pm
TNX for the post, Puma. Although technicals show a berasih picture on GOLD, my ideas towards a deeper correction tend to make me look @ gold and USD, both "risk" averse positions. How would you deal with this scenario?
gold chart wedge
Posted by dallassteve on 21st of May 2010 at 03:33 pm
Thanks for the nice gold chart, Puma.
I'm serious about this, too. I am not holding any gold stocks at this time. That being said, I am not selling any of my physical gold, and looking to buy more (if there is any to be had) after a healthy pullback.
dpack asked about how gold would do during a deeper correction in the markets. I am a gold bug, but I am going to wait until this correction has played out to take any longer-term positions in gold stocks.
still holding the metals, rank10?
Posted by sonia on 21st of May 2010 at 02:50 pm
If you're still there, can you share before the close? After that big gap down and rally up this AM, gold and silver have pulled back most of the way from today's top, could even leave an inverted hammer on the daily chart. Matt or Steve, do you think the pullback is a wave 2 pullback, or rolling over and going lower?