err gold 1588

[SimonPB]

so now what happened ?? everybody assured me that there was zero chance gold would go back into the 1500's ??
point of course is moot except to say, never say never ..

[richardw]

Coming from someone who said about a week ago..."when others are selling, buy." How's that going for you? :)

[SimonPB]

well so far everything I bought during this panic is in the green, albeit some very modestly, and that may change at the open .. but importantly I never said it was a bottom, I said it was great value ..

[richardw]

I kid, but there's definitely a difference between trading and investing advice there. Trend-is-your-friend and Greedy-when-others-are-fearful need a serious separation!

[#5]

Simon you a man that works on the price or so I thought.Will you still be buying as we move down? even if there is value at this level or 20% down?

[SimonPB]

depends if I trading or investing .. trading I go for trend so typically buy on the up and sell on the down .. investing I buy when cheap, so often on the down and especialy when there is panic ..

[SimonPB]

an I currently not buying this market ..

[richardw]

Howcome? EU?

[BoburUncle]

WOW! Look at the opening of GLD! Down over 7%

[SimonPB]

couple reasons .. if anything fear getting larger which should result in even cheaper .. also bought a lot back in Aug .. typically scale in at three month intervals, so next would be Nov ..

[richardw]

Safe-haven fail. Just like the last time.

[#12]

That is the trouble with an asset where speculation attributes almost 40% of its actual demand. When the speculators take profit, and then the rest kick in with stoplosses, panic and all other forms of sell reasons, you get uber volatility. The bets are off with gold, IMO, because the dollar has finally broken its downward trend, and is on the up. I don't think the US has any plans to intervene at this point, but since I am earning my keep in US$, I am rooting up topdolla - and gold can do whatever it wants,

[SimonPB]

hmmm, an some okes calling gold to 1000-1200 .. which seems overly bearish ..

[Fredsed]

For all timeframes only one place is safe. Two steps forward and one back is a winner, especially when the other band is playing out of tune.

[SimonPB]

ah yes fred .. you did finally put your head on a block if I recall .. an that block was gold when it was +1900 ..

[Fredsed]

Digging for gold is usually a peaceful pastime, then these city folk come rushing along creating a big fuss. Now who stole my tobacco?

[SimonPB]

gold now 1638 and ZAR 7.97 ..

[#18]

What's the problem? Why is the info not updating?

[kwagga]

Just trade the price Simon, just trade the price. Gold is oversold, so buytime soon.

[SimonPB]

that is exactly my point (well except I don't buy gold) .. people saying that it could 'never' go back to the 1500's when in truth any/everything can happen .. so indeed .. just trade the price ..