It would be a bit like betting money on a horse because I like the look of its form.
Jeff
superfrank wrote:I'm not I do have a view on fundamentals because I'm interested in economics and markets.
superfrank wrote:I'm not I do have a view on fundamentals because I'm interested in economics and markets.
I wonder what Buffet thinks of his bank tipping the "barbarous relic"?!Gold and the dollar are Bank of America Merrill Lynch’s top currency trades for 2012.
The second-biggest U.S. bank by assets after JPMorgan Chase & Co. said that investors should buy gold versus the euro as the ECB engages in quantitative easing to contain debt turmoil.
David Woo, global head of rates and currencies in New York at the Bank of America Corp. unit, told clients in research note that “the ECB will be buying more government debt and doing QE, so buy gold against the euro.”
“The second major theme is U.S. fiscal tightening is about to come and the U.S. economy will slow, and this will be very good for the U.S. dollar.”
“The general theme for the year ahead is pretty negative for the risk environment,” Woo said.
If you took all the gold in the world, it would form a cube 67 feet on a side, worth $7 trillion.
The long term trend is still well in tact though isn't it so as a Trend Follower would you not be looking to follow that?Ferru123 wrote:The bubble may have come to an end...
Jeff
Are you buying in these current dips? My personal view for the very little it is worth and from a complete lack of knowledge base would be to buy the dips = queue massive divesuperfrank wrote:Keep buying the dips.
Define 'long term trend'. You can't expect to get away with such imprecise language when talking to a trend follower!andyfuller wrote: The long term trend is still well in tact though isn't it so as a Trend Follower would you not be looking to follow that?
My mistake, didn't realise I had cut off the time axis. Have edited the above post and put in new images with the time axis.Ferru123 wrote: Define 'long term trend'. You can't expect to get away with such imprecise language when talking to a trend follower!
I assumed you were talking from your usual trend following view point but obviously not, more an observation.Ferru123 wrote: I was writing as someone with an interest in the markets, not as a trend follower. Whether a trend follower would still be long on gold depends on their entry and exit criteria. If they were trading the daily chart, then they'd probably have exited by now, but not necessarily if they were trading the monthly chart...
Remember that trend following doesn't predict; it merely reacts.
Remember also that there are trends within trends within trends!
andyfuller wrote: My mistake, didn't realise I had cut off the time axis. Have edited the above post and put in new images with the time axis.
andyfuller wrote: From your trending view point what would you do at the moment? Long, Short or do nothing?
I was meaning what would you do now based on the market, so if you currently are long are you still holding? Are you looking at buying the dips (Super Frank?)? Are you unsure what is going to happen and as such don't have a view either long or short. Basically what is your opinion of the market in terms of what is it going to do. Just trying to spark a bit of debate as I find it a good way to learn as it makes you look at things from a different view point.Ferru123 wrote:From a trend following perspective, what you do right now depends on your entry and exit criteria and the timeframe you're trading...
Ferru123 wrote:According to the attached chart, I should be going short...
Ferru123 wrote:I'd be about to exit the market if I were trading the weekly chart
To clarify, do you not use the Bet Angel generated charts as well?andyfuller wrote: If it were a Betfair chart I would be looking at the ladder lol
Try this: http://www.igindex.co.uk/spread-betting ... nding.htmlandyfuller wrote: I still need to get some charting,
Remember that we could both be right and both lose money, if the market decides to enter a range and take out our stops out before we're in the green!andyfuller wrote:Lets see who turns out to be correct, me long or you short