Targets updated

[#1]

Yes Fredsed....sorry I hijacked your thread and all, but as for the Wall Street Banksters.The GAME IS UP NOW..Gold's inflation-detector is flashing BIG as she forewarns.Can't print the stuff you see.Although many a central banker must have consulted Alchemists Digest for a solution.So, let them play their Futures-short, very short-term, Run-the-Stops Show.##Buy on the Dips.Simple.A big Kill coming.Now at 3500 cfds for me.Hoping for another little taildown to R92,just to collect 1500 more.And that will be it.Position-sizing obeyed.

[#2]

this looks like a support at 1372, holding 11500 cfd at 91.80 gld and short 130 us/zar, my fib elliot wave showing me a 5th wave to 1480 , from the 1388/1330 high/low correction wave. does anyone long gld agree ??? what concerns me is this move to 1370,didnt expect that , but hey lets build up some engery n steam from those levels and push up towards 1450 by year end , will be a good price to end the yr, my fib levels showed 1428 resistance at 128% but theory states that the wave of 5 should be more that previous upward wave, so 163.8 takes me to 1450 mark and 200 which im hoping for goes to 1480. does anyone watch those levels and can any advise be given....

[#3]

What nice GLD cfd holdings you have, said Red Riding Hood to leeash.Excellent.I see a cool R50k minimum-profit for you....TEAM GLD ! Anyone else at Cape Canaveral for the rocket-launch ?

[#4]

leeash: ...whilst I'm rambling in Jamaican-ese.Got my little blog at Fin24.com >>> ZARP 2010...go look at the 2nd-from-the-top Post called "Following That Green Dot."....does that help in any way ? Elliottwaving fascinates me. Keep posting re GLD.###Brainstorms.I like them.

[#5]

Message from the Lizard King,"C'mon Baby,light my Fire !'....Long-term Support at R88.And that's it,fellow Riders of the Storm. Thursday 9 December.Jim is with you....Hoo Haa ! ( uh, sorry, that was Al Pacino in Scent of a Woman,heh).Nevermind, they're both great.Embrace that day out there, in the Land of Floating Numbers.

[Russ]

Hi Vir.Based on the support line since 1 August this is now the buying area about (93.10-93.50).I would only look at long term support if this short term support fails.

[#7]

Numbers:Based on the Point and Figure pattern(as described above)....Price Objective >>> Gold at $1610.Just thought you'd like to know.Unleash that Beast.Let her be free.

[Russ]

Where do you get your gold chart from?The interactive chart on this site is always a day behind for commodities.

[#9]

Russ : Mornin !...stockcharts.com. Tap in $Gold and click the P&F box. And there she be....Demand and Supply.Now on a BUY signal and in Supply ( = take ADVANTAGE ! Buy on the Dip.)

[Russ]

Thanks.

[Flyguy]

VI so its time to buy GLDcfd???

[PaulC]

FlyGuy: We have been all week :)

[Russ]

I also like http://www.livecharts.co.uk/ You can detach the charts (gold,plat,brent etc.),make them small,and move them to the extreme right of your screen and keep an eye on them.They update each minute.

[Flyguy]

PaulC im new to cfd's... Think i must buy 500 cfd's at 93.00... what u think it will go to??

[grommet]

oh goodness

[PaulC]

being new to CFD's isnt a bad thing. Understanding your leverage and risk can be. Let me ask you this. How much money (margin) do you have. 500 CFD's @93.25 will cost you 6k in margin and expose you to R 46,625.00 in underlying. Lets assume that GLD drops 15% to 79.26 you will need to have R 6993.75 of margin else you going to get a margin call and / or auto closed at a loss. my rule of thumb for GLD (only GLD) is that if I can absorb a 15% downward move of the UNDERLYING then ill enter the trade else Ill wait for a more favorable entry point (in this case I dont see it going below 90) or a smaller trade size. So you need 6k to enter and 7k to hold the position accoring to my stop rules. So you need 13k in total. Personal feeling if you have 20k of cash you can put 5-7k down in margin. This is of course my feeling. To answer your question Im looking for GLD to go over 100 in the next 30 days. If we that happens ill sell out (30-50%) of my position (2000) and trail stop the rest. Feel free to bash my thinking. - P

[Flyguy]

Makes sense Paul.. Thanks for your input and explanation.. So if i dont have the margin of 7k, it auto closes me out and i sustain the loss..

[PaulC]

Yup that you will. And if it REALLY gaps down you'll get a polite call from OST asking for more funds. I remember DRD dropped 30% intra day once and someone new to SSF's had gone long and been autoclosed. That post in retro could have been a joke but the lesson stands. And I now have enough GLD cfds for now.

[Flyguy]

The Margin needed is largely due to the fact that P&L is dealt with at the close of business each day...Thanks Paul... Guess im getting me some gld boys!!

[Fredsed]

Looking for support the 50% retracement of $1329.4 - $1431 upleg be $1380 which holds most times but far from certain. Below is $1353 and below that is foul air. Stay alert for another test.