Gold Update -- December 15, 2009

kidmercury · 12-15-2009, 03:10 PM

Some people bought gold through this site -- a decent amount too, which gives me a nice kickback (which I can use to buy more gold

). Thanks for that. I'm glad that the gold trade has worked out for those who took my recommendation. For those who bought it through me, I wanted to do a quick update on the markets -- my take on what is going on and how to manage your gold positions.

1. First, it all depends on when you get in. I first got in when gold was around $850, but every so often I lock my profits in. So my levels are based on that.

2. My stop-loss is $1040 on gold and $16.75 on silver. Probably need to go to around $1250 before I can consider moving the stop up.

3. In terms of what's going on in the markets, there is still more explusion being done. I believe that is the "big picture" and will be for the next few years, at least until 2013. Right now folks are wondering why the dollar is rallying, and why gold is hesitating. The dollar is rallying, but more against some currencies than against others. Still, the market has all the signs of being out of sync with real world economics -- a hallmark of a panic environment. As has been my game plan all along, gold and silver are plays panic/crisis/permabear plays. So, the long-term view of being bullish on gold and silver is still in tact. Not a bubble, not a time to sell. My long-term target is $1750, and my trading range is $1040 to $1750.

Click here to buy gold from Bullion Vault, my preferred gold broker.

Click here for my official gold sales pitch.

12-15-2009, 05:43 PM

What your take on whats happening with the EUR/USD? ....its gone from 1.50 to 1.45 in less than 2 weeks. Haven't seen much news on what is driving this (interest rate projections, foreign reserve movements, speculation, etc) and if those factors are projected to continue. Thanks.

kidmercury · 12-16-2009, 10:58 AM

hey marko,

the euro i think is a pretty bad currency as well, perhaps in even worse shape than the only fiat currencies i like are australian dollar, canadian dollar, and new zealand dollar. the aussie and canadian are hte only ones i trade at the moment, and i do so on a shorter-term horizon, rarely being in trades for more than a few months.

12-15-2009, 03:10 PM	#1
kidmercury Administrator Join Date: May 2007 Posts: 3,987 MercBucks: 965,024 Awards Showcase Total Awards: 4	Gold Update -- December 15, 2009 Some people bought gold through this site -- a decent amount too, which gives me a nice kickback (which I can use to buy more gold ). Thanks for that. I'm glad that the gold trade has worked out for those who took my recommendation. For those who bought it through me, I wanted to do a quick update on the markets -- my take on what is going on and how to manage your gold positions. 1. First, it all depends on when you get in. I first got in when gold was around $850, but every so often I lock my profits in. So my levels are based on that. 2. My stop-loss is $1040 on gold and $16.75 on silver. Probably need to go to around $1250 before I can consider moving the stop up. 3. In terms of what's going on in the markets, there is still more explusion being done. I believe that is the "big picture" and will be for the next few years, at least until 2013. Right now folks are wondering why the dollar is rallying, and why gold is hesitating. The dollar is rallying, but more against some currencies than against others. Still, the market has all the signs of being out of sync with real world economics -- a hallmark of a panic environment. As has been my game plan all along, gold and silver are plays panic/crisis/permabear plays. So, the long-term view of being bullish on gold and silver is still in tact. Not a bubble, not a time to sell. My long-term target is $1750, and my trading range is $1040 to $1750. Click here to buy gold from Bullion Vault, my preferred gold broker. Click here for my official gold sales pitch.

12-15-2009, 05:43 PM	#2
marko Guest Posts: n/a MercBucks: 0 [Check]	EUR / USD911 was an inside job What your take on whats happening with the EUR/USD? ....its gone from 1.50 to 1.45 in less than 2 weeks. Haven't seen much news on what is driving this (interest rate projections, foreign reserve movements, speculation, etc) and if those factors are projected to continue. Thanks.

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12-16-2009, 10:58 AM	#3
kidmercury Administrator Join Date: May 2007 Posts: 3,987 MercBucks: 965,024 Awards Showcase Total Awards: 4	hey marko, the euro i think is a pretty bad currency as well, perhaps in even worse shape than the only fiat currencies i like are australian dollar, canadian dollar, and new zealand dollar. the aussie and canadian are hte only ones i trade at the moment, and i do so on a shorter-term horizon, rarely being in trades for more than a few months.