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Re: Gold Tags Last Friday's High and Low In 45 Minutes

By: capt_nemo in ROUND | Recommend this post (0)
Fri, 09 Sep 11 6:09 PM | 42 view(s)
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Msg. 34853 of 45651
(This msg. is a reply to 34852 by Decomposed)
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Just heard a TV thug saying gold to $7000 in a couple years LOL

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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The above is a reply to the following message:

Re: Gold Tags Last Friday's High and Low In 45 Minutes
By: Decomposed in ROUND
Fri, 09 Sep 11 5:58 PM

Msg. 34852 of 45651

So at 6:55, gold had lost $50. But now it's back to about where it was last night!

I'm going to do some waffling - because I know I've predicted $2,000 gold THIS YEAR. But I also think a sizeable pullback is due. Hey, both can happen. 2011 still has almost 4 months left in it.

There's just a lot of volatility in gold right now. No one knows what's going to happen, so it's gyrating like crazy. Gold can't easily climb to $1,900... because it would then either have to pull back and form a very rare triple top, or it would break out to new highs . . . when it is already badly and obviously overbought.

So, that leaves SELLING. IMO, the best bet.

$1,650 gold would not shock anyone.

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