Gold and Silver soaring, Dow Jones back over 18K for all the worng reasons, US economy slowing down (bond, margin)
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I have been waiting since 2011 for GLD to show me buy signal on a monthly chart. Guess what it finaly did last month. Gold and Silver are going up for next two years.
So your investment plan is to buy GLD when a chart that you've been watching for five years tells you to buy? Curious how much you bough?
S&P500 went up 56% while you were watching your chart for five years.
As a silver bug, I've recently bought some so I check prices.
Ah so Mr. I can't afford to move somewhere else, I can't afford a down payment or rent, I can't afford to learn anything to improve my skills, can't afford solid transportation, etc. is throwing his money into a volatile commodity.
So your investment plan is to buy GLD when a chart that you've been watching for five years tells you to buy? Curious how much you bough?
S&P500 went up 56% while you were watching your chart for five years.
I follow many gold stocks and they are very bullish at the moment. I have been out of gold since late 2011. I've been waiting for the monthly charts to turn positive. GLD finally gave me a buy signal last month. I'm long GLD, GDX, GG, AUY, NEM, CDE, SLW, NUGT, PAAS, HL, SSRI, AG, PSLV.
I buy and short sell what my own developed trading system tells me. You are missing the rally in precious metals. Gold bugs are going to have the last laugh
how many gold bugs rode the last rally up , hung in there when it slid thinking it is coming back and rode it down getting pounded now for years ? if gold doubled they are still behind where they would have been had they just bought an index fund in the market instead .
most gold bugs are just that and the end of life as we know it is always the vision in most of their heads so they are not unwinding their positions .
i have been hearing about the great collapse since the 1980's when i started out investing .
how many gold bugs rode the last rally up , hung in there when it slid thinking it is coming back and rode it down getting pounded now for years ? if gold doubled they are still behind where they would have been had they just bought an index fund in the market instead
Yes, but done properly gold is not a investment play but a defensive play. It deserves to be a part of any well diversified portfolio. How big, well that depends on your degree of pessimism in the market (Krugerrands in the floor safe anyone?)
i see nothing wrong with no more then 10% held as a position but before i held it for the long term i need to see something on the horizon that could sustain it and quite frankly at this point MEH .
i do own a bit of gld as my fun speculation but it is not part of any long term portfolio as of now .
since 1976 gold has been through so many scenario's where it should have been the shinning star but at the end of the day it was always another asset class that ran with the ball leaving gold behind in the longer term . even rolling over a 1 month cd beat it . it reaches a point where the insurance cost more than what you are insuring .
in fact gold is up nicely this morning , i will see how it looke later and maybe sell my gld .
how many gold bugs rode the last rally up , hung in there when it slid thinking it is coming back and rode it down getting pounded now for years ? if gold doubled they are still behind where they would have been had they just bought an index fund in the market instead .
most gold bugs are just that and the end of life as we know it is always the vision in most of their heads so they are not unwinding their positions .
i have been hearing about the great collapse since the 1980's when i started out investing .
I don't advertise falling in love with gold, there will be a time to sell gold and short sell it. But, for the next two years gold is going up, up and up.
i never predict . if you want to see poor predictions look at all the predictions about oil before oil tanked .
you DON'T know if gold is going up or down the next two years . especially if rates rise .
i don't predict but i do stay dynamic based on the bigger picture as it unfolds . way to early to say where gold will be in 2 years .
i never predict . if you want to see poor predictions look at all the predictions about oil before oil tanked .
you DON'T know if gold is going up or down the next two years . especially if rates rise .
I'm long gold for the next two years. Gold and the Dollar are not always averse. Gold can rise during times of interest rate increases. Think of the early 1980's. Short-term rates were ratcheted up; and gold rose. Think of Greenspan's 2003-05 raising of rates, prior to resignation: gold was up. There is no lock-step logic that causes gold to decline when interest rates rise. Gold rose precipitously from 1965-1980. So did short-term rates.
Do not sell your GLD, add more!!!!
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