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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #14,421
  • Dec 14, 2011 5:09pm Dec 14, 2011 5:09pm
Quoting LasVahGoose
Another "Top Caller" death of the gold bull.
http://www.bloomberg.com/news/2011-1...y-gartman.html

Two words: "Bear Trap" before going to 2000+.
yup
Life's a bitch....so be a dog and cover it!
  • #14,422
  • Dec 14, 2011 5:39pm Dec 14, 2011 5:39pm
The closing price whether or a daily, weekly or monthly basis is a key data point.

Today's close was lower than the spike low day on Sept 23rd. In fact it is the lowest close since July 12th or six months ago.

Not a bear market some say.

The more many keep looking for that bounce the more I believe we aren't close to seeing it.

Also Silver's closing price is down in the early Feb closing range or a 10 month low.
  • #14,423
  • Dec 14, 2011 5:51pm Dec 14, 2011 5:51pm
Quoting SunTrader
Not a bear market some say.

The more many keep looking for that bounce the more I believe we aren't close to seeing it.
Don't get me wrong, I think there is still some 'down' left but it always seems that when people start talking about how bad the gold market is and all of these articles come out about doomsday is just when it turns around. The opposite for the tops.
  • #14,424
  • Dec 14, 2011 6:16pm Dec 14, 2011 6:16pm
Quoting Sreym33
Don't get me wrong, I think there is still some 'down' left but it always seems that when people start talking about how bad the gold market is and all of these articles come out about doomsday is just when it turns around. The opposite for the tops.
Yeah but the only thing you have to watch out for is if you are predisposed to think one way then that is all you will find in the media.

Meaning if you think a bottom is soon your ears or eyes will perk up when you see "everyone" talking about Gold is getting crushed and woo who I am making so much money being short and it will never end until Gold is $500 crazy talk. But you won't notice as much how many are still bullish and just you don't worry $2000 is right around the corner kind of talk.


I believe none of that kind of talk, well almost none of it. Price speaks loudest though in my book.
  • #14,425
  • Edited 10:12pm Dec 14, 2011 6:40pm | Edited 10:12pm
Quoting SunTrader
Nothing goes up forever.

Demand has gotten stronger at the same time there is more and more gold produced. Demand outsrips supply so price rises. Nothing remarkable about that.

If demand goes down as supply keeps rising (who knows the answer to when this will happen) then the price will go down. Like it did in the late 80's and 90's, but just like the sun rises everyday there will be a day when gold goes back down.
Just as bulls see and hear what they want, bears do likewise. See this post from waaay back in February.

Sell offs without a fundamental basis are usually short lived.

This drop can't go on forever if reporting requirements on swaps are finally enforced. Let's just hope Chinese hands (and others) remain strong on precious metals so we can expose the paper tigers for their transgressions when the CFTC is finally up to doing its job.
  • #14,426
  • Edited 8:15pm Dec 14, 2011 7:48pm | Edited 8:15pm
Quoting lilpip
with daily closings this week above the projected yearly highs 1551 is once again spelling bull. Once above this quarters projected highs 1594 and its the same pattern as silver the last to years so it would not surprise me if we add last years entire range to 1551.
She did breakout from 1551 and came up about $14 short of 2010 entire range on top of 1551 as she turned around at 1922 area of that weeks highs.
The first retest of the yearly breakout was at the beginning of the 4th quarter.
Lets see how the 2nd test of the yearly breakout does at year end.
Also, normally when we hit a monthly projected low (1555) we will get some rotation back up.

btw that is the best looking butterfly I ever saw, cheers.
  • #14,427
  • Dec 14, 2011 8:28pm Dec 14, 2011 8:28pm
Those who are liking bullish butterfly should also consider its possible risk which is down to 1487
Its only a indicator and does fails many times. so look for possible daily and weekly close before taking long.

this is my bad luck that whenever there is big move I'm always at opposite end.
holding my buy @1793 for almost a month now and looks like now i need to hold for one more month.
waiting for entry as low as possible so that i can average my buy.
my prediction is we will see 1500 or atleast 1530. I'm not taking entry before that.
lets c how price react at 1530. dec close above 1500 will resume bull run
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  • #14,428
  • Dec 14, 2011 8:50pm Dec 14, 2011 8:50pm
breakout from wed. daily lows 1595 is noted, lets see the response of the retest or continues on with the breakout as I have 1535-40 as days low.
Im not quite sure what to think as the higher timeframe change going out and coming in , I suppose you could say the dynamics are shifting with the new year coming in.
  • #14,429
  • Dec 14, 2011 8:50pm Dec 14, 2011 8:50pm
Quoting Sreym33
Don't get me wrong, I think there is still some 'down' left but it always seems that when people start talking about how bad the gold market is and all of these articles come out about doomsday is just when it turns around. The opposite for the tops.
Yeah....it is "double speak" (1984) coming from the elite minions and puppets...a la bloomberg etc. I only listen to people who understand the system (e.g. Bob Chapman)....not those who are slaves to it.....and do what their masters tell them.

Having said that I do agree with you Sun....trade what you see....but you do have to understand the double speak too.
Life's a bitch....so be a dog and cover it!
  • #14,430
  • Dec 14, 2011 8:58pm Dec 14, 2011 8:58pm
Quoting dogbreath
.... Having said that I do agree with you Sun....trade what you see....but you do have to understand the double speak too.
Yes I agree but stress again understand the double speak of both the bullish and bearish perspective and if you have a bias be willing to look for opposite as well as confirming opinions.

The price is what the price is no matter what any of us thinks or says.
  • #14,431
  • Dec 14, 2011 9:13pm Dec 14, 2011 9:13pm
Quoting SunTrader
Yes I agree but stress again understand the double speak of both the bullish and bearish perspective and if you have a bias be willing to look for opposite as well as confirming opinions.

The price is what the price is no matter what any of us thinks or says.
Hey SunT. No patronizing intended. I see wisdom in those words.

I am water.
To Pool, I flow toward the strongest pull.

B
  • #14,432
  • Dec 14, 2011 9:27pm Dec 14, 2011 9:27pm
she sure doesnt act very motivated to head north.
  • #14,433
  • Dec 14, 2011 9:33pm Dec 14, 2011 9:33pm
Quoting SunTrader
Why look for a reason for selloff. Its going down, that is the trend.

Worry about a buy point once it turns.

Forexpros website, among many others, show bullish consensus of small traders is still 75%+ bullish. I hope it stays that way. Means more downside to come contrarian basis, which is what I believe is likely anyway.

where do u think is the buying point when it turns ?
  • #14,434
  • Edited 9:54pm Dec 14, 2011 9:40pm | Edited 9:54pm
Quoting lilpip
she sure doesnt act very motivated to head north.
The opportunity to continue to head South combined with the apparetnt lack of Push to do so, suggests otherwise.

SL @ 1,562.11 From the Long Side. Long x 3 @ 1,574.87
Moved SL to Higher Risk ICCE Diag @ 1,5755.75 {Trade Placed & accepted. I'm off to bed.}
I Don't Know where it is going But I do see/take opportunity presented.
btw. 1,609 First Target.

Stinky Finger
B
ps. Watching for a Bear Flag to Form. This is a nice setup for one on th 4 Hour...
  • #14,435
  • Dec 14, 2011 9:41pm Dec 14, 2011 9:41pm
Nap Time: cu in the AM.

B
  • #14,436
  • Dec 14, 2011 9:50pm Dec 14, 2011 9:50pm
will be watching silvers response @ $27.85-28.00 area
  • #14,437
  • Dec 14, 2011 10:24pm Dec 14, 2011 10:24pm
Platinum at Nov-Dec 2009 prices right now.
  • #14,438
  • Dec 14, 2011 10:27pm Dec 14, 2011 10:27pm
Quoting SunTrader
Yes I agree but stress again understand the double speak of both the bullish and bearish perspective and if you have a bias be willing to look for opposite as well as confirming opinions.

The price is what the price is no matter what any of us thinks or says.
roger that
Life's a bitch....so be a dog and cover it!
  • #14,439
  • Dec 14, 2011 10:28pm Dec 14, 2011 10:28pm
one for the road 1530 still valid below we are going deep above looks good
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  • #14,440
  • Dec 14, 2011 11:57pm Dec 14, 2011 11:57pm
i'm long sl 1560
The market was bullish, turned bearish, and you'are brokish!!!
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