FOREX TRADERS

[Worn_Buffet]

Wasn't there someone here a while back asking this same question?

& if I recall.....it was answered in a very similar manner in which this guy Nick explains.

Wasn't this ? asked by the person who was complaining last week about the weakness of the dollar....I think he lived in the UK or Europe.

Still not keeping up here but doing my best to stay as active as I can w/the demo acct.....doin OK thus far on the month.

I did happen to catch JRB talkin about shorting gold again....was he sayin he had a TP set down in the 780's?

Not sure it'll fall that much going into the US rate cut next week.

Shorting gold down to that range w/a 50-50 shot of a 1/2 pt cut next week seems like a fair long shot to me. I'm doin the opposite....buyin it on the dips & hope to have a poop load come next week when the cut is announced.....if it's a 1/4 pt I'll prolly bail fairly fast w/the entire lot.....if it's the 1/2 pt'er I'll hold it a while longer unloading a lil bit at various points on the way up.....could very well test & bust right thru the recent highs of 830+ imo...if not before.

I think a short while after the cut the mrkt will begin to lose its' steam (it may be starting to already) & it will re-test 12,750 or thereabouts....maybe even sub 12.5 come early Jan which in turn 'should' make gold a decent hold...& buy on the dips.

Going into q1 & 2 I'll give the mrkt a low range of 11.5 - 12K to the absolute bottom.....might not get down that far....sure hope not...the sub prime "bail out" may very well help to avoid those lows....& a high range of 12.5 to 13K....yes, I think given present fundi's the mrkt is overbought here.

Hope all's been well w/all.

Cheers!!