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View Full Version : is the gold correction over?



jy006m
03-01-2009, 08:51 PM
If yes, this could be extremely bullish for gold, the fact that it never made it to $850. At least that's what those Mike Maloney and Financial Sense articles said.
FreeMama
03-01-2009, 08:53 PM
I was just wondering this too. . .
malkusm
03-01-2009, 09:00 PM
I predicted that the correction would only be down to $935-940. That was where the 20-day moving average line was, and also where there were major support levels. I'm happy that it didn't break through those technicals....

Yes, very bullish for gold indeed.
danberkeley
03-01-2009, 09:17 PM
Gold is up ten bucks.
jy006m
03-02-2009, 08:58 AM
fuck
constitutional
03-02-2009, 09:04 AM
fuck

lol :eek:
voytechs
03-02-2009, 09:49 AM
Here is a good article about the gold/silver for next couple of weeks:

http://www.marketskeptics.com/2009/02/silver-and-gold-short-term-top.html
theoakman
03-02-2009, 12:44 PM
newsflash, the correction ended at the end of October.
voytechs
03-02-2009, 01:55 PM
newsflash, the correction ended at the end of October.

I second that. I'm adding a lot more to my positions now, taking advantage of the pull back.
danberkeley
03-02-2009, 02:07 PM
I second that. I'm adding a lot more to my positions now, taking advantage of the pull back.

WOohoo! It haz get dump'd!
Mordan
03-02-2009, 02:22 PM
no.

silver gets a beating
voytechs
03-02-2009, 02:30 PM
WOohoo! It haz get dump'd!

I don't know what you are talking about. I've been buying since low 700s :)
danberkeley
03-02-2009, 02:32 PM
I don't know what you are talking about. I've been buying since low 700s :)

We get to add to our positions.
jy006m
03-02-2009, 02:42 PM
newsflash, the correction ended at the end of October.

that wasn't a correction, that was people liquidating

if that was a correction, we should be at $1500 given we were at $1000 one year ago
jclay2
03-02-2009, 02:46 PM
that wasn't a correction, that was people liquidating

if that was a correction, we should be at $1500 given we were at $1000 one year ago

Yeah on a day like today, gold should be up at least $25. The only reason it is down is because everyone is liquidating anything and everything including gold.
voytechs
03-02-2009, 03:14 PM
It'll be back. Expected pull back. People taking profits in Gold to cover losses in equities.
theoakman
03-02-2009, 03:24 PM
that wasn't a correction, that was people liquidating

if that was a correction, we should be at $1500 given we were at $1000 one year ago

No it wasn't. The correction started in March. It ended in October.
AmericasLastHope
03-02-2009, 03:36 PM
Gold Price Correction Will Not Last

http://www.moscowtimes.ru/article/600/42/374911.htm
rockandrollsouls
03-02-2009, 06:31 PM
It'll be back. Expected pull back. People taking profits in Gold to cover losses in equities.

Why wouldn't you guys have sold your gold, taken a profit, and bought on the dip since you expected it?

Just curious.
dannno
03-02-2009, 06:42 PM
Why wouldn't you guys have sold your gold, taken a profit, and bought on the dip since you expected it?

Just curious.

Because it's risky. I expected it, I read about it and when it happened I wasn't surprised.

But you could lose a lot of ground if gold spiked for whatever reason.

If you believe the market reacts only to market forces you would be more likely to act on this type of information.

If you believe that the market is highly manipulated, then you know that it reacts to market forces as well as outside forces and you would be less likely to attempt to time the market. That is the entire basis for our support of Peter Schiff. Why attempt to time a market that is highly controlled? It's just too risky. What isn't risky is that we know gold cannot stay cheap if the currency is inflated no matter what they do to control the market.
rockandrollsouls
03-02-2009, 07:02 PM
Because it's risky. I expected it, I read about it and when it happened I wasn't surprised.

But you could lose a lot of ground if gold spiked for whatever reason.

If you believe the market reacts only to market forces you would be more likely to act on this type of information.

If you believe that the market is highly manipulated, then you know that it reacts to market forces as well as outside forces and you would be less likely to attempt to time the market. That is the entire basis for our support of Peter Schiff. Why attempt to time a market that is highly controlled? It's just too risky. What isn't risky is that we know gold cannot stay cheap if the currency is inflated no matter what they do to control the market.

Taking some profit after gold has an uncharacteristically strong run without correction isn't exactly risky.....what's risky is staying invested in a market that is so volatile. Take profit.
Paulitician
03-02-2009, 07:15 PM
Who knows, but I disagree with those who think the gold correction is over because gold has yet to break below 930 or something. Corrections can take a while. Short-term movements are worthless. Gold last year went from 1000 to 700, to 900, and then back to 700. It's all over the place. Personally, I am waiting for gold to go to 850. I wouldn't be surprised if it went lower than that.
theoakman
11-25-2009, 03:38 PM
newsflash, the correction ended at the end of October.

another bump for hindsight. Gold shooting for 1200 now. I guess we never got that pullback some people were calling.
theoakman
12-11-2010, 03:17 PM
another bump for hindsight. Gold shooting for 1200 now. I guess we never got that pullback some people were calling.

Another year, another $200 up. I'll bump this thread every year. I especially love the "take profit" posts.