Thursday, December 03, 2009

Gold: A Rush to Safety!

Fox Business 12/2/09 - Gold in a long-term Bull run; silver even better - will outperform gold!

9 Comments:

At 12/04/2009 2:37 PM, Blogger BxCapricorn said...

I really wonder why the upside for gold is considered so great. As of 12.4.09, I have two of my favorite miners, GG and TGB on both sides of the trade. TGB is a sell, while GG just dropped to buy territory on my TA. Looking at gold when it was at 850, it's now 1150? What's so great about that trade? I'd rather buy deflationary priced goods, that are staples. Still think Europe and Japan are infinitely more screwed than we are. BTW, did you read where China said gold look bubbly, and won't be buying any more at these prices? The USD will confirm.

 
At 12/04/2009 7:11 PM, Blogger BxCapricorn said...

Had to bring this one to your attention. I was wondering what happened to Kashkari...

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/04/AR2009120402016.html

Looks like he got himself a head start on the rest of us.

 
At 12/08/2009 4:32 PM, Blogger BxCapricorn said...

Well, amazing what a few days will do for the commodity sector. Looking at Thursday for the end of this slide. Isn't that when the treasuries stop selling?

 
At 12/11/2009 1:26 PM, Blogger BxCapricorn said...

Over the past four days, gold is down 8%.

http://stockcharts.com/h-sc/ui?s=GLD&p=15&yr=0&mn=0&dy=7&id=p18386748829&listNum=25&a=185589498

It's in BUY territory, but definitely on the downhill side of the slope right now. This could be setting up nicely for re-entry by yours truly. Love TGB, SLW, FCX.

 
At 12/12/2009 8:10 AM, Blogger Randy said...

I prefer this chart:

gold

 
At 12/18/2009 11:40 AM, Blogger BxCapricorn said...

Dec 11th, GLD closed at $19.32
Dec 17th, GLD closed at $107.34 with another BUY signal.

You know I'm a short term trading kinda guy. Bought SLW pretty aggressively at $14.58.

Love consolidation dips. They give me a second chance.

 
At 12/18/2009 11:40 AM, Blogger BxCapricorn said...

Sorry $109.32 for GLD on 12/11.

 
At 12/22/2009 3:23 PM, Blogger BxCapricorn said...

12/22 GLD hit $105.31.

This won't stop until the Europeans deflate their currency enough to export...I don't know...what does Europe export?

As an American, knowing that inflation is our future, this is a wonderful (short term) trend.

Hard to explain why oil went from $68 to $74 while gold went from $1150 to $1050...other than they have nothing to do with one another. They are markets that cycle separately based on algorithm trading.

 
At 1/02/2010 8:11 AM, Blogger BxCapricorn said...

Happy New Year...if you exit Gold, think about buying Silver on the dip, since it's actually both a precious and industrial metal. That is all. Carry on.

 

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