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  #571  
Old 10-13-2010, 12:02 PM
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The price needed to consolidate for a while. Too many weak hands are in now, making it easy for the price to collapse as there are plenty ready to sell but not many willing to buy. Most perma gold bugs are waiting for lower prices. When silver hits $30, the public at large will start to buy it up more so than at $20.
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  #572  
Old 10-13-2010, 03:28 PM
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I just doubled my position in DZZ, bringing my average cost per share down considerably. As a result, I predict gold at $2000 by November.

At which point, I'll again increase my position in DZZ. Because really, it's going to fall eventually.
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  #573  
Old 10-13-2010, 03:28 PM
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That was unfortunate.
Yeah, he totally Archered it.
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  #574  
Old 10-13-2010, 03:36 PM
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$2,000 is certainly possible, but I think it will take longer than many people seem to expect.
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  #575  
Old 10-13-2010, 04:55 PM
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Damn. $1374 - a new high again today.

If you look at the daily chart on this thing and fit a trend line to the bottoms, the line touches at multiple points and that current line is sitting at $1207.
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  #576  
Old 10-13-2010, 05:03 PM
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It was overbought $100 ago.
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  #577  
Old 10-13-2010, 08:59 PM
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At which point, I'll again increase my position in DZZ. Because really, it's going to fall eventually.
as someone once said, the market can stay irrational much longer than you can stay solvent...that said, as long as Commissar Bernanke is hellbent on debasing the USD, gold should continue to go up...I'm long gold, but I do not like to see it go up in a parabolic fashion -- there will be a correction at some point if that continues
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  #578  
Old 10-13-2010, 09:10 PM
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$1200 before $1500.
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Old 10-13-2010, 10:20 PM
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$1200 before $1500.
Put some money on it. It is closing in on 1380.
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  #580  
Old 10-13-2010, 10:29 PM
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Put some money on it. It is closing in on 1380.
I have gotten rid of all of my positions and am waiting to get back in. I only ever go long.
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