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To me this is sell off into close type news….maybe wrong but that’s my feel…. A lot of folks in for the QE ride may bail for now.
well totally unsure here so not doing anything. Remaining flat. Perhaps a short at close for another day of kts/bdip if kts remains in action….
If gold were to drop sub 1200 then I may look at another long for long term. I see max downside of 900 based on the movement of gold in the 70’s when it rallied, halved and then multiplied 8 times. I think we are at the halved stage, with the high being 1900+ a year or two back. Even minimum bet with IG would make £45k if it hit 10,000. I really believe that figure is now possible. I used to think 4-5000 but QE everywhere has gone mad. The number of Russian Roubles in existence has multiplied 18 times in about 12 years. Most of the major currencies are doing equally stupid moves and gold and silver will ultimately account for it, and skyrocket. Problem is when? If you know please tell me.
In January 1980, just 800 ounces of silver would buy an average American house outright. Silver is $20 per ounce and change today. I wouldn’t mind accumulating a couple of houses worth before it goes mad. 🙂
Dan.
Well I got the low there which was a stroke of luck, but a decent chance it revisits. It’s in Mr Whippy mode.
Tempted to reshort but will wait for a signal.
Gold getting hit a bit….
I put a v long term long on at 1282 last week. Will close between 5000 and 10,000. 🙂
I look forward to the next ms short trade. I reckon it might be a fast and furious one.
Good luck on your 1777 target. I just didn’t want to be cursing later. Points and money are what this is about. I had some to bank so why risk it…. I have a longer term target for my pot too so it’s in keeping with that. Infact a couple more like this lot will get me there sooner. Small steps….
Closed all shorts at 1782.63 for total of 19 points. These were 2 ms bets and yesterdays add on at 1788.63.
Probably see 1777 now but I would be fuming if it bounced and that’s not a bad points haul.
When I think back, virtually every single bet I ever did has shown a profit at some point. Thus close and wait, close and wait.