Just wait until Asia markets get a hold of Gold in After Hours and send it down $30.
Apple could be down $20 plus tomorrow with investors starting to realize China Mobile deal could be months off. Unfortunately the air has now been let out of the Apple balloon and its now a question if it every will get pumped back up again.
So steind76 at 1:59 pm today are you long gold or short gold? If no reply they your full of hot air. If you do pick a position in Gld - Gold please tell the world.
Simply because everyone knows Gold is going to drop hard next week leading up to the Fed Tapering decision on Wednesday. Why go long GLD over weekend when you know it will sell off Monday, Tuesday and Wednesday leading up to a very possible Fed Taper of QE announcement? GLD upside from here pennies but downside is HUGE.
and I suggest around 6 pm tonight you might want to get some good ear plugs since goldbugs will be screaming their hearts out watching gold tank in after hours. GLD about to go double digit by the end of December.
Could be a lower open then $110 if we get budget approved in House to be followed tonight about more Fed Taper rumors. One wonders now if we could see the biggest gold drop (of all time between today and next Wednesday) if the Fed cuts back on QE.
and odds now are very strong that the House does pass the budget bill and send it to the Senate to be approved early next week. Looks for Gold to crater tomorrow and Dust ramps higher.
Fed going to taper next week or January and Gold knows it. Fed now forced to end QE due to strengthening U.S. economy, improving job market and budget deal in Congress. If you like Dust at $50 today you will love it at $60 plus next week. And don't sell at $60 since Gold will fall throughout 2014 while Dust could triple easily.
and if not Taper news next week then certainly in January. GLD about to fall 3% to 5% daily as we finally see the Fed stepping up the plate and ending QE. Its the death knell for Gold and GLD.
You can kiss my big red clown nose Monday morning when GLD opens $117. Over the weekend you get hear talking heads say "the Fed tightens soon versus later". But don't worry - you still have 3 plus hours to sell your losing long gld position.
Question is do I go long DUST or Short GLD for the up coming Gold Correction? Thing I'll do both since like Dust big moves up and use GLD short as a defensive position. Can't wait the Fed to speak next week and whack gold down another $50 to $100.
Because the Fed is coming to town with a very sharp knife to cut the QE cord.
We've all seen this before. Its called two or three steps up and then all of a sudden a big step back. China Mobile news is baked in (unless it gets pushed off) and Apple has now traded lower two days in a row. We could easily retest $540 next week so be very, very careful. Once the ball starts rolling down hill it picks up some serious speed.
Gold futures dropped by more than 2% on Monday as monthly data on the U.S. manufacturing sector came in better than expected, supporting the prospects for a pullback in the Federal Reserve’s bond-buying program and fueling a climb in the U.S. dollar.
In other words the "Fed" is going to bring GLD to its knees and keep pushing it down to below $35 a share. Its all going to happen over the next 12 months so please don't go long unless you like Major Pain.