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Stocknawe

03/01/14 11:13 AM

#9449 RE: sumotrader #9448

Morning Sumo, it was a wild and whacky Friday, they decimated gold to 1319 at 1:30 pm, then back up to 1331, I bought gold @ 1324 on the close, sold in less than a minute for a 1.30 gain, then watched in horror as it put on three additional points, ending the Friday session at close to 1329. It seems like the Ukraine is the topic of the day, Putin and Obama are at odds, no harsh language yet, but it does seem like a pissing contest may be imminent. I was playing DUST earlier in the week, the reversals are extremely annoying and difficult to time, if you played 500 share lots back in her heyday, now you have to do 1000 shares to get the same pin action, which requires nimbleness, which on high volatility days is a tough ask, packed with risk. They are trading the heck out of the twins right now, so a swing trade can cause some grief and those all too familiar uneasy nights where you watch helplessly while gold goes against you. I think a short on NUGT right now is a tad risky, because of the Ukraine debacle, and you know how the media loves to feed on those kinds of frenzies. Bold talk from either power, USA or Russia can easily drive POG up like crazy, naturally pulling those miners up with it, so be careful. 15 below in my neck of the woods, brrrrr. :)
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J44

03/01/14 12:09 PM

#9450 RE: sumotrader #9448

Your wrong. Why would you ever go against an uptrend that has been so strong. Gold is going to test 1400 there is no question. The recent activity has been consolidation, profit taking. Gold will continue to climb. I am sorry for your bearish outlook.