I like your strategy. I think everyone knew Fed was going to...

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devilcnc

73 Posts.

19/12/16

07:47

Post #: 21425129
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I like your strategy. I think everyone knew Fed was going to raise interest last Friday. That was factored into the price. However, Trump is not president yet until January and god knows whether he is really what he claims himself to be. Gold will remain stable before Jan comes in my opinion. Since Friday was a oversold day, I think today we can see a rebounce.

Originally posted by T2000 ↑

Only reason gold's going lower is in your head. It's called bearish sentiment, and you'll make up reasons to justify your bias. I watch your comments, you were a big cheerleader when gold was topping, and had all the reasons why it HAD to go higher. Looks like you may well get whip sawed in at the top and out at the bottom due to your emotions. I managed to bail out on gold miners a couple of months ago, when I was worried gold was topping. I even started a thread about it in the gold forum (gold charts - cause for concern?) but no one would listen. Gold bugs tend to be perma bulls until they get wiped out.
Now I'm cashed up and bear hunting, bottom fishing if you like but my entries here are far less risky than two months ago when everyone was buying. And I only buy on oversold days and use trailing sells to stop out if I'm wrong. Looking to get long with leverage when the tide turns.
PS forget "reasons" keep your eye on price.
It can be expensive to convince the market.

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MOY Price at posting: 18.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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I like your strategy. I think everyone knew Fed was going to...

Top Stories

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

NRW Holdings voted Wealth Within's hot stock tip

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

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