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  #61  
Old 16-11-2012, 08:04 AM
goldman sacked goldman sacked is offline
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Keep stacking when there is a major dip is my strategy
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  #62  
Old 16-11-2012, 08:22 AM
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Quote:
Originally Posted by Kenjonyap View Post
Morning bro Pika
Yup today pm prices " buah toh" abit, perhaps due to the reports previous day...but I presume prices will not fall back to the $1690 range a couple of weeks ago? Just asking, assuming it does really fall back to the 1690 range, is that something we should be concern about and change strategy Liao? Thanks
I am still holding my view that gold price will test 1690-1700, the reason being price is still stuck in a minor downward channel formed from 9Nov and there is still a lot of room between last week's low of 1672 and last night's 1705 to accomodate another test. However, the sharp rebounds seen at 1718 on 13Nov and last night's also indicate that many traders are ready to support these prices. Hence, even if prices do test 1690-1700, it may do so in a very quick manner and it will be difficult to exploit it unless you are watching it very closely. If price stay below 1730, I will not be changing my view.

Silver, in contrast, shows a more bullish picture as it is not running in a downward trend from 9Nov, but sideways. However, as we know, silver is also a wild beast. Who knows it may just suddenly decide to test 31.30-31.80 region? In any case, I see 33.25-33.65 as a S/R challenge for silver to break above too, which is not very far from its current price.

I have expected the PM market to test those regions I've mentioned during the early part of this week before resuming their upward moves. However, it has chosen to be sluggish instead and today is Friday. All the major currencies seem to be resisting their weakness against the USD too. I have nothing more to say now other than to wait and see how the PMs will end the week.

It is good you are developing your own sense for the market. Never believe anyone religiously when it comes to market forecasting. Along with that, when you can act according to your trade strategy with discipline, I am sure you will do well over time. Let's continue to keep learning and keep stacking!
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  #63  
Old 17-11-2012, 04:35 PM
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My view in silver trend is probably touch 31.73 next week. However, 33.0 is on his way
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  #64  
Old 17-11-2012, 04:59 PM
Chronicler Chronicler is offline
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Hmmm... If silver touches 31 next week, I may have to adjust my Au-Ag holdings ratio.
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  #65  
Old 17-11-2012, 05:31 PM
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On the other hand, I'm anticipating a further downside to gold due to the possibility of more margin calls next week forcing stocks investors to liquidate their Au...

Decisions, decisions...
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  #66  
Old 19-11-2012, 09:59 AM
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Price action looking good on the upside now...
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  #67  
Old 19-11-2012, 10:49 AM
Chronicler Chronicler is offline
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Yup.

Anyway, I've decided to set aside some fiat for a VIP Au when it becomes available at the end of the year or so.
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  #68  
Old 19-11-2012, 11:31 AM
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The price momentum seen this morning from all the major currencies and precious metals against a weakening USD now portends gold to rise up to 1750-1760 S/R zone and silver to 33.25-33.65 S/R zone very soon, possibly within these 2 days IMO.
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  #69  
Old 20-11-2012, 10:00 PM
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I would not be surprised to see silver touch 38 mark by Dec , the bollinger formation is looking to break out
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  #70  
Old 20-11-2012, 10:17 PM
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Heads up, John Paulson and George Soros both betting heavily on gold now.

Paulson alone already controls about 66 tonnes of Au, more than Brazil!

With this kind of upside, that's bad news for Au addicts hoping to add to their collections.
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