guys, it's OVER. it's just going to relentlessly go down, day after day. don't get in the way. you know how you're driving along and some stupid squirrel sees the car approaching and just has to cross the street at just that very moment? that's the dip buyers. they see the gld fall and they have to get in the fall. don't be a dumb squirrel. get out of the way.
they just don't stop buying the gap or the dip. it's like they have some compulsion to light their money on fire. GUYS : don't buy until we at least get one bullish candle.
it's funny that people seem to be relieved that gold has found a "bottom." OK bottoms don't happen on quiet, narrow range days when everyone is comfortably pronouncing bottom. no way. this broke out of a very long triangle yesterday . . . it has weeks more to go. the h&s was $15 so the intermediate bottom measures to $95. bottom will not happen when the longs call bottom, it will happen when we get posts like (in the bitcoin bubble burst days) "I lost my life savings in gold and now I can't tell my wife." we are not even close to that point. in fact the quiet action after yesterdays impulsive move is in fact very bearish . . . it means no bulls were ready to sell on Tuesday morning *even after getting annihiliated on monday.* not only are the bulls not afraid, they are STILL BULLISH.
this isn't true. mint is sold out of silver bullion, ie lots of uninformed retail buyers. record numbers of buyers at fx bucket shops (see dailyfx for the deets). lots of articles about dip buying. the dip buyers are out in force as demonstrated by this board. the opposite of love is apathy. we haven't reached the apathy stage. we're at denial.
if it gets to 1050 it's not going to stop that's not how bear markets work. they rip your face off and then hand you the hospital bill
I would bet on it . . . the US dip buyers did their job, the only buyers left are in the US because they buy in dollars. rest of the world is bailing and buying dollars, US buyers will eventually follow.
it's 700 before 1700
nobody except nearly 10 million shares yesterday . . . the dip buyers are persistent in the face of overwhelming trend.
it's fair to say this was the worlds most telegraphed secondary (or is it a primary? or both? or a follow-on offering? who knows). anyway, I would bet $7 is probably a good price. does this mean that 4th q results were good? at this point radiant can pretty much make up any results they like, depending on where expenses go. my biggest concern is that the epicor erp in the wheels business and how and if there will be a big migration over to SAP/Cargowise. Crain & co. have never shown themselves to be great operators, and a big software conversion like that is way beyond anything they've done before.
looks like another overnight gap lower . . . question is whether US buyers will take it higher . . . will the dip buyers save it again?
another case of trading lower overnight, gap open lower, and then US buyers push it higher. one of these days it will gap lower and then trade lower . . . pattern will break and so will gold.
we have 109 in premarket . . . it's over folks. but don't worry, every ending is some new beginnings end. or wait, every beginning is some beginnings end. or something. this isn't the end of the world is what I'm trying to say. it just looks like it.
GLD has declined even though most days it closes at a high on the day. here is what I think is going on. the overnight overseas trading sends gold lower. then it opens at that price in the us market. then the us buyers of GLD drive it higher and it closes at a high, and the cycle repeats. so then the question is when the US buyers are going to stop buying and what happens to gold then.