Posted by marketguy on 7th of Oct 2010 at 05:07 pm
I'm sure it'll only go down a couple percent and then right back
up right? I'll bet (and already have) it going down much more
than that.
what'll be funny is all everyone will start off saying just
what you did "it's only a much needed pullback", "nothing to worry
about", "buy the dip", etc and then she'll continue down much more
than everyone thinks....
Gold is in a strong up trend, even you might admit to that..
With the fed printing dollars and the dollar weakening, not
sure where the edge is in betting against the up trend and gold as
an alternative currency...
Posted by marketguy on 7th of Oct 2010 at 05:23 pm
no doubt it's been in a strong uptrend but has almost gone
parabolic so a 10-20% correction here should not be a surprise
(even to a gold bull)...
the daily bear engulf gives shorts an easy exit should it start
heading up again (ie a
closeabove today's
high and one should exit if they are short)...
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just a much needed pullback in gld and uso
daily bear engulfing
Posted by vdonato on 7th of Oct 2010 at 04:59 pm
I'm sure it'll only go
Posted by marketguy on 7th of Oct 2010 at 05:07 pm
I'm sure it'll only go down a couple percent and then right back up right? I'll bet (and already have) it going down much more than that.
what'll be funny is all everyone will start off saying just what you did "it's only a much needed pullback", "nothing to worry about", "buy the dip", etc and then she'll continue down much more than everyone thinks....
guess we'll find out soon enough....
Uptrend
Posted by vdonato on 7th of Oct 2010 at 05:13 pm
Gold is in a strong up trend, even you might admit to that.. With the fed printing dollars and the dollar weakening, not sure where the edge is in betting against the up trend and gold as an alternative currency...
no doubt it's been in
Posted by marketguy on 7th of Oct 2010 at 05:23 pm
no doubt it's been in a strong uptrend but has almost gone parabolic so a 10-20% correction here should not be a surprise (even to a gold bull)...
the daily bear engulf gives shorts an easy exit should it start heading up again (ie a closeabove today's high and one should exit if they are short)...