Sadly, this board is a microcosm for the way people think in life. Nobody here wants to say, I really have no clue. Lets all try to figure this out. What all of you "do" say with every drop is, "this is the bottom" or "buy more, it makes no sense. Its a steal at this price!" I suppose none of you ever read the books :market wizards or trend trading. The pro's do not care about fundamentals. They just want to be in on the trend. Now...when gold crossed under its 20 day moving average which must have been at around 900, wouldnt you all have liked to be short, instead of making up reasons? Eventually, yes, the gold market will bottom and all of you will jump in and say...."I told you so."
Not one person here, after all is said and done, was smart enough to say...I was long but now I am going with the trend and getting short" after gold started its drop. Is there one guy here who wouldnt have liked to sell his long after the market signaled a reversal and be short now!!!!!
I can actually give you guys a "real" definite reason gold is dropping and 2 probable reasons, but you'll have to email me as I am not going to have an argument on this board. I can only say that I follow the professional gold swing trader called Zoktoro who does not care which way gold goes, he just makes money either way. I have been doing pretty well. And no, I have no idea where the bottom is....or is not.
Naw, I never claim expertise in much of anything, except observing people and avoiding the troublesome ones. oh yeah, I'm pretty much an expert smartass too, but that doesn't pay too well. I'm open to new ideas and I'm not obsessed with gold nor am I unwilling to change my mind. So, not everyone here fits into your broad generalization.
Thanks for the link. I'll check out what this guys has to say.
I think they told George H. Bush: It's the economy, stupid. Or at least something like that after he lost to Bill Clinton.
There are certainly gold bulls here that would not listen to a bear. But there are also those of us here looking at the economy and saying WTF!!!??? Some of us are looking at gold with the economy and trying to understand what is happening, and figure out the best course of action. It has nothing to do with bear or bull, or was I right about the trend or not.
If I were a trader, I would have to agree with you. But I'm afraid that I am just another "Joe 6-Pack" looking at the future and not liking it. To quote a great man: "Money is like medicine. It's only good when you need it." I want a little medicine in my cabinet.