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Exactly my thoughts. Except I trust them enough to lie, that I can't sit on the sidelines.
Holding on to DUST until I see what the Fed has to say.
Miners don't seem to be following spot gold too closely. Will be interesting to see what kind of support $1,315 has
Here we go. Good luck to everyone!
Hong Kong likes the gold today. Hoo-wee
Wouldn't volume on this be irrelevant, as it moves according to the index?
Yeah...not much else to say there.
And good luck to you tomorrow. I think the price will be moving fast. I'm fairly heavy in DUST as of this morning. Considering to go even heavier.
I have no clue how the reports in the AM will go. But I think the catalyst will be the Fed's speaking up. And I don't think they would have been introducing the idea of ending QE, without an actual intention of doing so.
But, it's only a guess. So I set a stop loss, too -- though it is fairly lenient, since I expect volatility in both directions.
Good luck, and green trades.
Holding DUST overnight ;)
Wow. Super lurker. 3 posts and a member since 2004.
Nicely done. I decided to get a heavy position in DUST this morning. And I've decided to hold it until tomorrow.
I personally think that nothing the Fed is going to say will help gold.
Well if no more money from gov't and housing up! That means cash limited and with housing prices going up an gas prices going up it drives inflation up!!
And right now gas prices are moving up and that causes everything to go up!!
No QE means less cash around and therefore inflation!!! Which means buy gold!!
So that means more inflation coming if no QE, which in my mind means gold should go up???
Ending QE means ending monetary policies that have inflationary implications and that devalue the dollar.
Ending QE means ending monetary policies that have inflationary implications and that devalue the dollar. So investors have hedged against cash-linked investment options by buying gold and other commodities.
Ended those policies imply that investors will go back to cash-based options since 1) the inflationary risk is tapering off, and 2) the Fed's decision to do this implies the economy is recovering.
Not an economist, obviously, and just an opinion. Interested to hear others' input.
Agreed -- big price changes this week.
My guess is we'll see a drop Tuesday and early Wednesday ahead of the Fed releasing their statement on monetary policy. If it is trending that way, I'll play DUST for a day.
When they do make their statement on Wednesday, if they allude to ending QE, we'll see a huge drop in gold prices. And vice versa, of course.
It still blows my mind that economic factors don't change the price of gold and direction of the economy, as much as the words of a few select people do.
With the volatility this thing has, I don't think it will be stuck in the 7's for too long. IMO Wednesday will trigger the volatility with the guys upstairs talking and all
Agreed. Been waiting and watching today.
There's a difference between correlation and causation FYI
For goodness sake, thank you. You seem to be the only one on this board that gives level-headed, rational opinions.
Why not buy DUST, as opposed to shorting NUGT?
Sold at the lucky 7.77. Good luck with those Montana girls ;) Have a nice weekend all
Hope you got your beer money! Sold my 7.30's with this late day run, and ready to go get my coors light ;)
Loaded up at 7.30. Interesting movement today.
I was going to ask...I'm using Etrade. The thing's whacked this morning. Not getting right data in on NUGT
Spot gold coming up. Looking at making a play today
So you're saying the likely reason behind a RS for a leveraged & indexed investment is to attract institutional buyers?
I think softballdaddy made a good point. But keep in mind what gold has done over the past 12 years, regardless of what Buffett thinks.
So why bother splitting or reverse splitting at all?
Since NUGT is indexed to gold miners, won't the percentage changes still be the same, indexed x3 to gold miners -- whether split of reversed split?
I have a negative outlook on it, personally.
Agreed. Waiting to see what happens tomorrow before pulling any triggers
It sounds like you don't fully understand what this stock is...
Sold my 6.27's this morning. Looking to reload.
New HOD. Hit the 8.50's
New HOD. Busting through the 40's
On the way to test HOD? Back in the 8.30's
Gold holding steady. After hours at $7.95 +1.79%. A good day tomorrow, and we could see the bullish confirmation on the charts.
Would love to see a bullish confirmation on the charts tomorrow
Correction and profit taking as expected. I'm still holding out on this one