Dow Jones Industrial Average ends week at highest level in nearly three years -
http://www.telegraph.co.uk/finance/mark ... years.html
Either the US economy is doing far better than most people realise, or this is a bubble waiting to burst...
Jeff
Gold
This cartoon made me laugh: http://www.michaelcovel.com/2011/04/22/ ... /#comments
Jeff
Jeff
superfrank wrote: The short-termist economic thinking of the west is coming home to roost.
Protect yourselves!
I'd be wary of expert advice, however knowledgeable the expert, as no-one knows what the market will do next.
I'm of the trend following school of thought, ie ride the trend when it goes your away, but exit swiftly when the market starts to run away from you. With that approach, you're not making predictions - you're just following the market.
Also, when you look at the gold chart (attached), I'd say it's due for a correction soon. If I were trading it, I'd wait for it to fall and then start to rise again, and buy in the dips.
Jeff
I'm of the trend following school of thought, ie ride the trend when it goes your away, but exit swiftly when the market starts to run away from you. With that approach, you're not making predictions - you're just following the market.
Also, when you look at the gold chart (attached), I'd say it's due for a correction soon. If I were trading it, I'd wait for it to fall and then start to rise again, and buy in the dips.
Jeff
jimrobo wrote:Been told to buy gold next week for another move up. Not looked into it but is a reliable source!
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Fair enough - I'm just of the school of thought that says that stock market tips aren't that different from horse racing tips.
Jeff
Jeff
jimrobo wrote:My friend trades gold for hsbc . I would never buy anything on a tip but I just thought I'd contribute to the thread!
- superfrank
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Silver bounced sharply off 50 and is now at 45 but I suspect it will keep testing 50 in the short term.
If it breaks through cleanly it will make 60 in no time.
The mini flash crash last night in silver futures ($6 in less than 15 minutes!) was probably caused by heavy selling into a thin market on the Osama Bin Laden rumour/news.
If it breaks through cleanly it will make 60 in no time.
The mini flash crash last night in silver futures ($6 in less than 15 minutes!) was probably caused by heavy selling into a thin market on the Osama Bin Laden rumour/news.
Last edited by superfrank on Mon May 02, 2011 1:39 pm, edited 1 time in total.
- superfrank
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Keep it for a rainy day - paper gets very soggy in the wet!Euler wrote:Somebody once paid me a due debt in silver, this was back when silver was $5 an ounce. I put it in a safe depost box in the bank. Time to get it out I think!
You can always invest in hard assets, like property. At least they yield something and that is where their value is derived from. Gold and Silver doesn't yield anything, the only reason you would own it is because you think somebody would buy it from you at a higher price.
- superfrank
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But property has very high transaction costs, poor liquidity, maintenance costs, poor yields and is still way overpriced (IMHO).
Warren Buffett shuns gold as an investment - http://www.telegraph.co.uk/finance/mark ... tment.html
I like Charlie Munger's comment: "There's something peculiar about an asset that will really only go up if the world is going to hell."
Jeff
I like Charlie Munger's comment: "There's something peculiar about an asset that will really only go up if the world is going to hell."
Jeff
I wouldn't be going long at the moment, based on the current chart.
It looks like a classic reversal setup: a strongly trending upward market combined with a hammer doji.
If I were a contrarian trader, I'd put in an order to go short a couple of pips below today's low.
Jeff
It looks like a classic reversal setup: a strongly trending upward market combined with a hammer doji.
If I were a contrarian trader, I'd put in an order to go short a couple of pips below today's low.
Jeff
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