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Gold taking a major shit...


Roman
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I know but it will come back up. I bought more last May and this is my first time being in the red. I am not selling.

 

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Any tips for a good buy in point - small amount, maybe 500 to a grand? I have some gold, but have never bought it before.

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Any tips for a good buy in point - small amount, maybe 500 to a grand? I have some gold, but have never bought it before.

 

Dollar cost avg in.

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What's fueling the dive?

 

the fact that gold sucks.

 

i reallocated last 2 years, am into these now:

 

 

AAPL

 

BIDU

 

CMG

 

CTRX

 

DDD

 

DIS

 

EBIX

 

ESRX

 

GOOG

 

HAIN

 

HAS

 

IPGP

 

ISRG

 

KMI

 

MNST

 

NUAN

 

PANL

 

PCLN

 

PNRA

 

SBUX

 

SDRL

 

SIRI

 

SODA

 

TREX

 

WPRT

 

 

 

 

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the fact that gold sucks.

 

i reallocated last 2 years, am into these now:

 

 

AAPL

 

BIDU

 

CMG

 

CTRX

 

DDD

 

DIS

 

EBIX

 

ESRX

 

GOOG

 

HAIN

 

HAS

 

IPGP

 

ISRG

 

KMI

 

MNST

 

NUAN

 

PANL

 

PCLN

 

PNRA

 

SBUX

 

SDRL

 

SIRI

 

SODA

 

TREX

 

WPRT

 

Nice diverse list, I would also do something like this over owning gold. Gold sucks imo cause its 100% based on perception

 

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I see this as a consolidation.... This has needed to happen for a long time.... When you hear a headline like "Gold is seeing its worst day in 30 years" that sounds like a dinner bell ringing to me... If you arent in gold, start to nibble here.

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What's fueling the dive?

 

 

Commodities as a whoile are tanking on weak news from china...Who have been the big buyers the last few years... If they dont need to buy it (or worse, they need to sell some to cover for the economy) that lowers prices... Plus cypress may have to sell gold to keep their lights on.... :jack: I LOVE seeing a big move like this.... This is a correction... And a signal to start wetting the beak.... It may go lower from here... This correction will probably last a month to 6 weeks or so.... But big snaps down like this tend to snap back just as fast.... I dont know if we'll see 1900/oz again (my gut tells me we will... Which is a big change for me... Ive been a gold seller up til now.)

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Commodities as a whoile are tanking on weak news from china...Who have been the big buyers the last few years... If they dont need to buy it (or worse, they need to sell some to cover for the economy) that lowers prices... Plus cypress may have to sell gold to keep their lights on.... :jack: I LOVE seeing a big move like this.... This is a correction... And a signal to start wetting the beak.... It may go lower from here... This correction will probably last a month to 6 weeks or so.... But big snaps down like this tend to snap back just as fast.... I dont know if we'll see 1900/oz again (my gut tells me we will... Which is a big change for me... Ive been a gold seller up til now.)

 

What would be a sign that the correction is going back?

Could this not have been foreseen earlier knowing that China could not always maintain its growth?

 

I'm new to this game, take it easy on me lol

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A huge sell off of gold and silver! I am definitely buying more...just not yet...see where it is later in the week. Silver is a great play because I bet within 6 months it will be over $26 easily and that is an easy 10%+ if you buy today. I know alot of people do not like silver but I have made easy money on that every time within months of buying it!

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What would be a sign that the correction is going back?

Could this not have been foreseen earlier knowing that China could not always maintain its growth?

 

I'm new to this game, take it easy on me lol

 

 

Look for the bleeding to stop, a turn around (Im guessing we'll have a day where the GLD is UP 5% in a day) and then watch that sell off again.... THATS capitulation... And the big boys getting rid of the week retail investors so they can reestablish positions.

 

 

Gold is particularly interesting to watch since so much of it is sold to the retail investor away from the market. Retail investors are really not involved in setting the market price AT ALL...

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Look for the bleeding to stop, a turn around (Im guessing we'll have a day where the GLD is UP 5% in a day) and then watch that sell off again.... THATS capitulation... And the big boys getting rid of the week retail investors so they can reestablish positions.

 

Would this be the idea behind what Soros did? Sell off his stake to scare off the smaller investors to buy it back when price is low?

 

I'm in no way shape or form a big investor, but to me gold has interested me for the last year. It seems like it might be a good way for me to learn how markets work and maybe start as a base to make a bit of money.

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I'm waiting for $1300, but if it climbs back up, then I'll buy at $1400.

 

What's fueling the dive?

 

Lotsa factors... Cyprus dumping $500mil Euro in gold out into the market, a strengthening USD, the happenings in China and Europe, etc...

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Look for the bleeding to stop, a turn around (Im guessing we'll have a day where the GLD is UP 5% in a day)

 

 

That looks to be today.... Up ~3% in pre market.

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Would this be the idea behind what Soros did? Sell off his stake to scare off the smaller investors to buy it back when price is low?

 

I'm in no way shape or form a big investor, but to me gold has interested me for the last year. It seems like it might be a good way for me to learn how markets work and maybe start as a base to make a bit of money.

 

Gold is not where you should learn how markets work... Its a closed market that you will never have real access to... If you want to learn markets, start with BIG Etfs- The spiders and Diamonds... Then once you think you've got a handle on those move into sector ETFs...

 

Do that for a decade then dabble in individual stocks...

 

Gold is the oldest commodity... And its moves are measured in Eons... Gold can go down and stay down... For a very long time... Thats why us old guys, guys who are old enough to remember the last time gold did this, are weary of the fcuking thing... Gold was at 250/oz and for 30 years didnt move more than $100 in either direction... And then it shot up... That's a wall of worry... I literally dont think Gold has reestablished a base price yet... Even though its been 4 digits for a decade.... And until it does, in my mind, it will be $250+-.

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  • 6 months later...

bump....what do you guys feel gold will do in the next year or so? Its down quite a bit now. Romandad you're sayin gold would or could drop down to the 250 range?

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bump....what do you guys feel gold will do in the next year or so? Its down quite a bit now. Romandad you're sayin gold would or could drop down to the 250 range?

Not exactly. I just dont think its established a base yet...

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