I got in when I saw people saying gold was a sell. That usually means the bottom is in. When people start saying buy gold that usually means a top is in. I thus got in below $4 at about 3.80s average. I know we will move up...it is just a matter of time. Actual bottom was 3.50s, so I missed it but was close. I thus rode this from 3.80s to mid 5s and back down to where we are now....because I know it is going higher. I could have sold at $5s, but there is always that danger of missing the pop higher. I believe GS saying gold is a slam dunk sell is possibly the most bullish statement you can make. GS does not show their hand to the masses. They do the opposite of what they tell others to do.
This is what Goldman is doing. Say "slam dunk" which means guaranteed sell. So...the masses sell gold in droves and many start short positions. Ask yourself...why would Goldman give away a "slam dunk" short position? If you are short then you try to get your position before hand, which is what GS has done. They are already short and looking to cover. The only way they can cover is with more selling from panicked holders of gold. So....they are just looking for supply.
THEN...that is when Goldman drops the hammer, covers, and goes long. This causes a massive squeeze of all the lemming shorts that follow Goldman to ruins. That is the plan....put it on wax...that is what will happen I guarantee. Goldman is not your friend. Goldman is capitalism unrestrained and without morals or ethics. That is Goldman. You can either fight them or understand their intentions. I understand their intentions and use that information to better create my position. We will not drop below the 52 week low and gold will move up soon. Just watch.
What is your price point for your core position? If it is in the higher range then what I told you still holds. You need to catch things earlier....however it will not matter if you are patient.
I doubt he is as well. I bought before all of this mess happened...in the 3s because I speculate. If you buy when others are starting to buy then you are already too late. You need to catch it earlier snow. However, if you are long now then you will be pleased if you just have patience and cajones to see it through. If the volatility is too much for you then I would suggest you get out.
Everybody knows Goldman are crooks and manipulators. Anybody working for them has sold their soul. One day they will do it to the wrong company and.....goodbye Goldman.
You should have bought in the 3.80s like I did. Also, you know the range of this stock can hit the 3.75 level and it will go back up. Why would you put stops above that level? That makes no sense to me. Well good luck to you snow. Remember you had shares at this price.
Not out of the realm of possibility. Eventually it will correct itself as you say. Until then I will just wait. I am confident of my position.
It is strange. There could be one gold bar left in existence and the price still could be manipulated if enough people collude together. In the future colluded shorting....and buying....will be illegal. But right now it is the wild west in the markets. It will change when johnny investor gets sick of it and pulls his money out of the market and his 401k. When businesses begin to offer different investment products to compete against the 401k then you will see the changes.
Why not just buy it all at once in the 3s instead of constantly trying to get the price down and buy once a week? Or are you selling stuff to get more money?
Also Alex...you know pete said that you were one of his aliases. I notice you never negated that statement, which was odd.
It is not crashing...it is being manipulated. The thing about manipulations is that they never last and they end badly for people following the manipulated trend. Soon....gold will pop and all of the know-it-alls will be on CNBC saying "Well of course gold is up, inflation, QE infinity, instability"....that's how it will go. Right now we just have to tough it out.
We are holding up really well. This has been horrible macro news for miners....short-term of course....and we are not doing that bad. I am going to go out on a limb and say we end the day green today or very close to it just like yesterday.
Prove they are shorting. All you have is their sentiment. You have no idea what their position actually is. If I was buying a stock....actively buying...I would tell nobody if I wanted to consolidate....or I would say I was shorting. If I was shorting, I would say I was buying to drive up the price.
So....prove that they are shorting.
It was a healthy retrace honestly. Higher highs and lower lows. If it was parabolic and up a dollar a day then we would have a shorter crash.