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Wow. Volatility. Gold just stepped in a manhole.
Yeah. Which direction Bernanke farts in this time
Tapering 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.
So, CE, tapering means gold goes down. Not tapering means gold goes up. But who knows...
Continuing QE will help gold. Tapering QE will push gold lower...at least those are the logical outcomes. But logic and markets don't always go hand in hand ;)
Yes, but I think the miners are catching up to where they "should" be in respect to the price of gold. That correlation got out of whack the last few days IMO
Candlestick.
I'm averaged at about $25. Almost sold yesterday for a break-even, but I'm still convinced gold has some heavy consolidation to do.
I'm in DUST and show a 99.5% gain. Wish it would stay! But you'll see that everything is on par in the morning. Don't lose sleep over it ;)
Gold still seeing heavy selling pressure overseas. Hit <1355 in Hong Kong. Will be interesting to see if it tests 1350
I'm not doctor, but...
The r/s and f/s on NUGT and DUST, respectively, will have no affect on their movement, since these are indexed to specific mining stocks.
Their movement is based solely on the overall movement of their indexed mining stocks.
Even though gold is creeping up, it looks like the miners are catching up to this slump
Pure gold.
Terrible post. Too much logic, and not enough exclamation points to make your point valid.
NUGT and DUST not following spot gold at ALL
Not sure what shrooms you put in that Sunday burrito, but the chart you linked showed sub 1375 when you linked it. Still <1375
Gold starting to drop hard in Hong Kong. I suspect that if we open up <1375 in the morning here, we'll see some heavy selling pressure. >1400 and my sell button on DUST is all primed ;)
Congrats to all the winners this week! Lots of percentage changes to work with.
I'm interested to see what happens next week. Personally, I get a little scared when it goes up too much too fast. Not a generally "healthy" gain IMO. GLTYA
Agreed. Bought DUST at $50.75.
Wow big move, going past $1,350
Looking for NUGT to dip into the 6's, and loading up down there, if it finds it...
International markets keeping steady. Can't quite close my eyes
Hopefully. I'm nervous about how Hong Kong and London are going to react. Probably not going to get any sleep tonight!
Looks like the reversal is coming around. Gold hitting the wall at $1,315. In at at $84 on DUST so I already have my work cut out for me. Good luck!
That's where my bet is. Jumped the gun though.
That's my guess. Just bought 120 shares of DUST. Last time I got murdered. We'll see...
HA! Thanks for the laugh
Day 8:
Dear Journal,
The numbers are still red.
Ooooo. Now I wanna know which poster!
Going to see how gold does after hours. 7th consecutive day in the red for NUGT. Though technically I don't think this down-trend has much steam as of yet. Looking to play a bounce and get in tomorrow morning.
I think he was on to something...
Go to a local coin shop. You can buy silver and gold in single-ounce coins or multi-ounce bars. Do a little DD on the shop before you go with a load of cash, and call them beforehand to see if they have any metals in stock, and how much above spot-price they charge.
Every dealer will charge a certain amount above spot. Last time I bought silver a year or two back, he charged $1.00 above the spot price. It wasn't the cheapest deal. But he was reputable, and I liked the way he did business.
Call around to a couple shops and you'll find they're all about in the same range, but you can find the best deal that way.
Good luck!
Nice stop limit ;)
Wow. Got out of DUST. This train doesn't have brakes.
Picked the wrong side. Getting pounded in DUST!
Stressful. Lol. 150 shares of DUST. $77.60 average price. Moving fast in both directions.
Just doubled up on DUST. Setting a tight limit. GLTA
100% agreed
Because the Fed is going to open their mouth ;)