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drbubb

Gold Bulls - "Clawing the Sky" as prices fall

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OK this will probably make more sense to traders

 

Daniel O'Sullivan happened to call the oil market correctly as I noticed in other articles not

 

just this one - he also writes for investors chronicle. At times he talks a lot of sense.

 

Latest article

 

http://www.cityam.com/markets-and-investme...-the-great-oil-

 

bubble-2008 - 10 DEC 2009

 

http://www.harriman-house.com/pages/book.htm?BookCode=403165

- a review of his book on the subject and link to youtube vid

 

 

Daniel O'Sullivan latest view on gold

 

http://www.investorschronicle.co.uk/Market.../72b99932-e4c5-

 

11de-ae62-00144f2af8e8/Wheels-come-off-the-golden-wagon.jsp

 

Daniel O'Sullivan on option trading affecting gold

 

http://www.investorschronicle.co.uk/Market.../e50f8588-ced5-

 

11de-9040-00144f2af8e8/Gold-options-may-signal-bubble.jsp

 

So could the price of gold be flying around according the the speculative interest? IMO I guess nothing is certain and when you take account of the relatively small size of the gold market then it is very possible/likely. After ignoring Mr JSMineset for the last few years I get the impression that he thinks the same thing but is retaining his long term bullish stance - which is not a million miles from Dr B!

 

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Bubb, you really haven't beaten anyone (as far as I'm aware). Certainly not Sinclair or what you term FOPPS.

My position on trading is clear: if you have the skill and the money then there's no problem. Most people don't have the former and end up losing a lot of the latter.

Trading on leverage is for the super-skilled only.

I see no reason not to declare "a victory", and it will be a bigger one if after covering my shorts at a profit,

I wait and see a lower low before I build a more significant long position. I don't claim "to get it right every time"

as a trader, but waiting out the rally from early Nov. post India's gold buy, and selling into that action, has proven

to be a smart move.

 

Just bought: Jan'11.GLD-$90.calls at $21.50

This brings my Bull Spread back "into balance" eliminating the small short position

We have closed under the 50mda which points towards a test of the 200mda, no?

No point in maintaining a short with this chart ... update

xxxm.gif

 

If today's low is broken, next stop may be GLD-$100.

We may see that, perhaps after a rally to GLD-$112 or so.

 

It would be interesting to hear what others are thinking, including Gurus like JS.

I may turn myself into a FOPP for a while. Having enjoyed the freedom of non-FOPP-ship thinking

in the recent past, I am not going to ignore the fact that JS and his team have made many good calls.

 

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Perishabull in Harrods

 

PBHarrods-1.jpg

 

It's three gold bars for the price of two at the moment...

 

This marks the last low in gold this year............................................................maybe

 

PS Yes, when I am out and about I do wear a yellow cardboard box, with a painted bull skull, around my head

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