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long gold

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...very Gold-positive right now from Jim Sinclair, premier Gold trader, as at 14Mar2007 : "in order to prevent a situation that would act as vacuum on liquidity, the Federal Reserve must act to add liquidity, to an already over-the-top world liquidity situation ; since this is Super-bearish for the Dollar, it is Super-bullish for Gold."...and... " the courage of my youth has returned as I bid every $2 lower as the newbies pound away at Gold."... Yeah,MR Jim Sinclair, he never misses on the Gold-thing.PS: +40 yrs in the Mkts is its own CV.
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liquid
Contributor
gold flying now
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RDB
Super Contributor
stops now moved to 645,5, just below my 646 support
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RDB
Super Contributor
look at gold going 649.5 currently
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RDB
Super Contributor
thought off taking profit at 650 as it seems we wanna test 646 again, afraid the test and jump will be during our sleeping time so leaving position with 645,5 stop
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RDB
Super Contributor
eish, gold stop taken out, only to see it now back @ 647
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RDB
Super Contributor
and as far as I can see the low last night was exactly on my stop off 645.5
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RDB
Super Contributor
should pull back slightly from 647, awaiting entry
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RDB
Super Contributor
long gold again @ 647,6 waiting for 646 again, but doesn't look like it wanna happen
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RDB
Super Contributor
adding to position as we move to test 646
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RDB
Super Contributor
650 seems to be resistance for gold, if it can break 654 then 656
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Southpaw
Contributor
When do you think it will go over 650? Today?
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RDB
Super Contributor
already over, watching now to see if it holds
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Southpaw
Contributor
What are the chances that it runs ?
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RDB
Super Contributor
1 and 5 min charts overbought, but 30 and 60 still looks good for long - things can stay overbought for long time
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Southpaw
Contributor
Thanks for your help. Appreciated
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RDB
Super Contributor
gold went to 652,7 high and pulled back, taking 650 instead of 646 now as some sort of support as we struggled to break through the last 2 days, stops just below 650
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RDB
Super Contributor
was looking for pullback to 650 to add to position, now it seems it wanna jump from 651 level
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RDB
Super Contributor
added another $50 per point @ 651.6
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RDB
Super Contributor
bailed around 652 all positions, once again to early
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