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February 11, 2010

Would You Buy Gold Now?

This entry was posted on Thursday, February 11th, 2010 at 6:52 am and is filed under Futures, Gold. You can follow any responses to this entry through the RSS 2.0 feed.You can skip to the end and leave a response. Pinging is currently not allowed.

2 Responses to “Would You Buy Gold Now?”

1. Patrick said:
   February 11th, 2010 at 8:35 am

   Bought some minis last night, sold them this morning, the tape doesn't look like a strong reversal pattern, looks like a second correction, one more leg down. 1020s or more likely 1030s is a strong buy. Next leg will complete the first cycle of the bull market from 2001 and be a spectacular blow-off, 1350 at least, maybe 1500+. Then the deflation comes, the credit instruments leveraging the price of gold will have to unwind in a blood bath and the buying opportunity of a lifetime – in the physical – will emerge at perhaps 850, perhaps lower (though if you're buying with no leverage, who cares if it drops $200?). 
   After that, the sky is the limit. This system is in the process of shaking apart, that's the underlying reality. 

2. Tom said:
   February 11th, 2010 at 9:03 am

   My neural net models for timing gold show that the $850ish level is the sweet spot but $1020ish is good buy too.

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