Gold is up another 15 Dollars overnight so……one can only assume you’ve missed that train.
Like I’ve always said….I’d much rather be early than late, as chasing trades can make your head spin.
The future is looking very bright for gold as “global uncertainty” escalates and “global appetite for risk” wanes. Unfortunately you just can’t have it both ways…unless of course you decide to pick up gold as a hedge ( meaning you purchase an asset that is set to move higher while holding on to assets moving lower ) and hang on to those dividend payers during the long and arduous drawdown coming soon to a theatre near you. I did this once.
I will never do it again.
As a relatively young trader / investor type…I can’t bear the thought of having my money tied up so tight I can’t breathe. Can’t move. Can’t sleep or eat just watching the value of my assets going down, down, down, down further….then down some more. I think we all know this feeling to a certain degree. It can certainly make sense for people a tad older than I as moving theses assets around / pulling apart portfolios and rebuilding again is a bit of a pain but….at least in my view – nothing compared to 3 straight down days -300 on Dow……trapped like a rat, then contemplation of either selling at a loss or holding on for an even larger loss.
Fear and greed baby…..that’s all there is too it. Ride that train in either direction…just don’t miss your stop.
All current trades looking golden. EUR right on. USD falling. Gold on the move.
Miners looking tame so far given the ramp in gold. Kicking myself for not picking up NAK on the cheap yesterday. But keeping it simple is the order of the day. I hate watching more than a couple positions.
It will come…..I too see things trading rather flat.
This market is far to complacent. It will just take a nice big red candle er two to pull people away from the Telly. By then of course….it’s too late.
Love the position in gold here. Love the long EUR play. Love short USD etc…
Just another day…..nothing much to see here zzzz zzzzz zzzzz
What’s ur target for eurusd?
I’d love to see this next run tag the 200MA up around 109-110 area, but can’t say for certain I would hang onto the position that long. I might end up jumping in and out at least one time in between.
Hitting this so early we’ve got at least a full daily cycle ( yes I consider cycles when timing trades ) then likely another to follow so…there is lots of time to let this run.
I stay pretty light on feet…as things can change quite quickly but this looks like a great entry…and a nice to trade to hang onto for at least the next couple weeks.
Bought a lot of NGUT a couple of weeks ago only to feel like a fool watching GLD going up day after day while NGUT went the opposite way. Read an article in seeking alpha it is better to buy GLD than GDX.
Yes..always better to buy the real thing but who wants to bury that much capital in a single asset or trade.
We need to roll with the punched when buying thru these other instruments but…there is little choice unless you want to just sit on a few gold bars for a year or two. I like the risk reward..as miners are cheap and can provide some great price moves.
Manipulation in miners looking more extreme than ever. I have to wonder if the paltry move in miners is actually an indication that gold will fall off a cliff soon…
Personally I don’t look to compare or evaluate the ratio between the two on any kind of daily basis.
I look to the US dollar to frame these trades…knowing full well as it falls the price of commodities “priced in USD” must rise.
Agreed. Whatever happened to USD in the last few minutes is a head scratcher. The Fed emptied the zoos to dragoon more monkeys into service with carnival hammers. Lawn gnomes are full force in the cube farm next door furiously mashing Ctrl-P!!!
The daily / minute to minute flux of a position is gonna be what it’s gonna be. Stare at it too long, and one runs the risk of turning into a Carnival Gnome! ( love the writing man! )
An interesting lil blimp here this morning all the same. My thoughts? I think this is very significant turn..and the big boys are really making people work here. This turn has stretched longer than expected..and thus far provided little price action – just grinding traders brains to child powder.
A few days more…I don’t expect prices to change…just a little more grinding before we get the big rewards.
Thanks, Kong! Ya gotta mix in some humor every now and then when talking about the biggest financial catastrophe in humankind’s history 😉
I think that’s probably right. The easy money is usually made in the run-up to the Fed meeting so this sideways action should serve to flush the week hands out. On the other hand, a lot of smart, like-minded individuals I know are concerned about another big leg up in USD. We shall see!
Ha! Well….there are always two sides to the trade and it’s pretty tough “convincing anyone” of the rapid demise of The U.S Dollar – but what can ya do. It’s just a currency like any other but the “patriotism attached to it” is like none other!
I respect that…but could never let my emotions influence my trading. Difficult for some to do. Me? I’m as hardened as they come after this many years staring at this.Emotionless.Cold.
I enjoy the geo political stuff a lot, but when it comes down to generating the cash to “live my life”? Cold hard killer. It’s all just math.
I look at it all as the simple exchange of a note/promise ( the currency ) for essentially…..human labor.
Fundamentals, Kong! They don’t matter until they do lulz.
What do you make of the idea that miners lead gold price? Gold catches up, miners lag, gold goes down. Seems to be a popular sentiment with the “know-it-alls,” but I’m not sure if the data bears it out…
Absolute hogwash as….
Forex dictates everything….as everything has a “cost” in “one currency or another”.
The miners vs the asset underlying…..as they are traded in ETF’s?? Total bullshit.
It’s all Wall St as soon as you say the word ETF.
Total bullshit. Watch the “value of a currency” and the “value of the underlaying asset with respect with” and your work opens up.
My view in any case….but then again – I am a primate so….