How do you know price will stop at 50% retracement? it could go down to -61.8%, -100% -1.318% -1.618% -200% etc...., who knows where it stops. If you draw a trend from mid 2012 until today, the trend is still down. Until it breaks the trend then you can say it's going up. (probably), sometimes it broke then trend and just went back into the downtrend again.
There is no hope, Gold can't break above 100dma while market is in correction. If you want your money back, time to load up on quality stocks such as AAPL, COST, TMO, ALXN, etc... buy small for initial position to allow for further down fall, 25shares as starting for those stocks would be good so you can keep an eye on the. Then buy more once it goes your way.
-Market is just panic selling, if you notice, bonds and gold are not shooting up today while market is selling like no tomorrow.
Flat out for now, market sell off again and Gold doesn't poke through resistance, time to get out. Good luck if you stay.
sheepskiner dude, so you think short will cover before weekend after a huge market sell off?I used to think like that but I get smarter now, don't need to catch top and bottom, market will come to you.
-Don't forget to post your loss so other stupid can learn from stupider, well, go back to your farm and skin more sheep.
so you just lost $24k in 10minutes? $73 is a steal alright, they steal your money, and please don't delete this post sheepskiner_cantstoplaughing
it's not reverse split effect. It's ETF time decay, you always lose money if you long bull ETF or bear ETF, unless you day trade or trade short term. Happens the same for financial ETF FAS/FAZ
It's been trading in range for the whole week between 1083 and 1093, buy support sell resistance or short at resistance and buy at support until the pattern fails.
Do you remember GM back then? after reemerge from bankruptcy protection, all old shares are invalid. The new shares hold the same GM stock symbol.
Dude, you should follow the two rules:
-Rule # 1 - The wife always right
-Rule#2 - When she is wrong, see rule#1
-You can sell "cover call" to hedge your position, guess it's a little late now, wait until it rebound.
gold hit trend line 1080, likely will rebound due to oversold, $1130 is the next rebound resistance. Eventually gold will go to 1040 (no demand for safe haven trade). good luck