Kathie Lee Gifford (intc)
63 replies to this topic
Posted 15 January 2003 - 07:20 AM
GETTING BACK INTO THE GOLD BULL MARKET
Re getting back into gold stocks.
As they are in a bull market it is quite probable you will have to get back in at higher prices.
And this is better than buying back in at lower prices!!!!.
Livermore said that he only bought more at higher prices. So it is actually good and better to buy back in at higher prices - why - because it confrims that the bull is continueing - but psycalogically hard to do.
So if prices go up - dont wait - dont regret - just buy back what you sold at higher prices.
Posted 15 January 2003 - 07:34 AM
Butt, I have no idea what he's referring to, but it definitely can't be the Bullish Percentage Index. First, as I said, there is no BPI for any of the gold indexes - and it wouldn't make sense anyway, because they have very few members. But it can't be a BPI of any custom basket of (many) gold stocks, either - because a BPI by definition varies between 0% and 100% and it is simply wrong to say that "80% is the absolute top" - since it can't be the absolute top by definition.
My guess is that either the analcyst is trying to fool the people again - or that the journalist reporting the story has no clue. Or both.
Mark, I've been hearing this fable about the gold shorts having to cover since I became interested in gold, which was more than a year ago. I'll believe it when I see it. James Sinclair is no better than James Creamer - it just happens that the thing he's pumping is currenly in a bull market. But pumping it he is, without any regard of proper technical analysis and by pulling arguments out of a hat. He's a crook, just like Abby. One day gold's bull market will end and his reputation will be destroyed just like Abby's. Let's hope that it doesn't happen any time soon.
K-Wave, I agree - the US dolor is due for a technical bounce.
Posted 15 January 2003 - 07:58 AM
In Fibonacci terms, $355 is a .618 retracement between the high of $420 and
the low of $250. That would suggest a pullback of some degree.
From the longwaves site.
NONE of what I type, should be taken as financial advice.
And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.
Posted 15 January 2003 - 08:19 AM
But those weren't the high and the low. If you use the continuous futures contract, they were 417.5 and 252.5 respectively:
0.618 retracement of that is at the 354.47 level.
Or, if you use the spot price, they were 414.80 and 252.20 respectively, in which case the 0.618 retracement is at 352.69.
Never trust anything anyone says about the market, if you can verify it yourself.
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