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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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Eelman
Maine , United States
Posted Anonymously
14 years ago
Feb 25, 2010 13:16
Short oil and silver. To me oil seems way too high relative to the recent strength in the USD and weakness in gold. There has also been very significant inventory builds for 3 weeks now, yet on bearish reports the twisted logic has been to buy. I know distillates have been what "they say" is supportive of the oil price. Still it seems very odd that while gold has dropped from 1130 to 1090 and the dollar has been crushing the CAD, the price has been near 80? I think at least a short term target of around 75( which is right around the 50 day sma) is logical.
chloethebull
Posted Anonymously
14 years ago
Feb 25, 2010 13:11
@gunjack..im shorting oil..looking to cover around 78.-50..then shorting again over 80.00..gl
Gunjack
London, UK
Posts: 1184
14 years ago
Feb 25, 2010 13:03
Anyone playing Crude oil at the moment...where do ppl see it heading?
montmorency
UK
Posted Anonymously
14 years ago
Feb 25, 2010 10:59
@Nzvik: I'm not sure if 1107 would necessarily mean the end for this downtrend. I am continually surprised how high it can bounce back, only to go further down. Some of these moves are what Ashraf would probably call noise. Having said that, we have to be aware that one day the secular gold bull market will resume. I don't know how we will know when that is for sure. White smoke at the Vatican? China buying furiously? Big happy smiles on Peter Schiff's face?

One of the emails I get from Money Morning (out of the Money Magazine stable) was reminding us of George Soros. He was widely quoted as saying that gold was the ultimate asset bubble, but he quietly went away and started (or continued) buying the stuff. "When I see a bubble, I go out and buy...".
Of course, for someone with George Soros' resources, gold is still a cheap buy for the long term.

Also, the folks at Money Magazine are gold permabulls. Perhaps in the long run, we are all gold permabulls. But for those of us without Soros' resources, perhaps we have to wait until it gets even cheaper. In the words of Saint Paul (almost): "Lord, make me a gold bull, but not yet ....".
nzvik
Auckland, New Zealand
Posts: 225
14 years ago
Feb 25, 2010 7:35
doubt we will see 1107 - will short again at 1100. If it reaches 1107 that would kill the current downtrend we have had over the last few days. A temporary low at 1088 would have formed then.
PippedOff
Canada
Posted Anonymously
14 years ago
Feb 25, 2010 6:20
1107
rrose
United States
Posted Anonymously
14 years ago
Feb 25, 2010 6:16
pipedoff at what price are you looking to reenter gold shorts
PippedOff
Canada
Posted Anonymously
14 years ago
Feb 25, 2010 6:14
@jjstone-last we heard fromm you, you were getting run over like a Mack Truck on the raise in Discount Rate. Welcome back.
jjstone
Toronto, Canada
Posts: 45
14 years ago
Feb 25, 2010 5:57
PippedOff

I like that you think so highly, and put so much credence in all of these Annalists. Thank you for spending so much time following them, and disseminating their message on this forum. I don't follow any annalists. I personally only follow a few STRATEGISTS. Thank you, for spending countless hours telling people in this forum whether or not their analysis is correct.
Twigins
Calgary, Canada
Posts: 2
14 years ago
Feb 25, 2010 5:31
Actually, it just occurred to me that oil could be the better hedge over gold ... if Iran needs loan guarantees to get through ... this must give floor support for oil and then any supply interruption could cause a pop?
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