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Gold Gold Gold Gold Gold Gold . Gold π Gold π Gold π Gold π Gold π Gold π Gold π Gold π.
Mainstream fake news CNBC noticed gold buuut of course they are talking about silver . Yes why buy the strong performer?
Mainstreet is so addicted to poop. "Wow record low earnings and whole country on shutdown and down 70%! Give me all the airline stocks you have".
I am going to check later Robinhood & the rest of mainstreet, I bet they are furiously shorting Gold like they bought Oil in April π€£!
They're still holding the bags (bad companies and bad Oil vehicles), it was an eternity ago.
The most popular gold stocks on RobinHood did not get any new buyers in the last weeks...
https://robintrack.net/symbol/AUY
They list their gold stocks here: https://robinhood.com/collections/gold
Here are the popular gold short ETF: https://etfdb.com/themes/inverse-short-g...
I do not know which ones are the "Robinhood ones"
But checking the big ones big surprise Robinhood users shorting gold has gone parabolic :)
Praise be them. Doesn't seem alot of users are interested in shorting at all. And Gold inverse ETF aren't very popular.
I just want to hear stories just like in April. I would love it. Oh well. Anyway they'll buy at the top for sure. Keep an eye open.
Gold is going so strong and so fast it's like day trading... It's like with Oil back in April I was almost an Oil day trader :D.
You need to know what you'll do in advance because it can all happen very fast
I like to look at the previous ath break...
Might be a false break and soon returns below ath and then just sideways for a long while... Back and forth...
If this continues it is likely forex follows ( dxy , eurusd , gbpusd , usdchf , usdcad maybe makes a big break and really goes, usdsek , usdcnh could go at that point too).
And there will be trends to ride with forex, maybe a few reversals as it will start being really overextended and return to some old long term supports.
And then Bitcoin makes a small 1-2 days plop as always. Not interesting yet.
Mainstream fake news CNBC noticed gold buuut of course they are talking about silver . Yes why buy the strong performer?
Mainstreet is so addicted to poop. "Wow record low earnings and whole country on shutdown and down 70%! Give me all the airline stocks you have".
I am going to check later Robinhood & the rest of mainstreet, I bet they are furiously shorting Gold like they bought Oil in April π€£!
They're still holding the bags (bad companies and bad Oil vehicles), it was an eternity ago.
The most popular gold stocks on RobinHood did not get any new buyers in the last weeks...
https://robintrack.net/symbol/AUY
They list their gold stocks here: https://robinhood.com/collections/gold
Here are the popular gold short ETF: https://etfdb.com/themes/inverse-short-g...
I do not know which ones are the "Robinhood ones"
But checking the big ones big surprise Robinhood users shorting gold has gone parabolic :)
Praise be them. Doesn't seem alot of users are interested in shorting at all. And Gold inverse ETF aren't very popular.
I just want to hear stories just like in April. I would love it. Oh well. Anyway they'll buy at the top for sure. Keep an eye open.
Gold is going so strong and so fast it's like day trading... It's like with Oil back in April I was almost an Oil day trader :D.
You need to know what you'll do in advance because it can all happen very fast
I like to look at the previous ath break...
Might be a false break and soon returns below ath and then just sideways for a long while... Back and forth...
If this continues it is likely forex follows ( dxy , eurusd , gbpusd , usdchf , usdcad maybe makes a big break and really goes, usdsek , usdcnh could go at that point too).
And there will be trends to ride with forex, maybe a few reversals as it will start being really overextended and return to some old long term supports.
And then Bitcoin makes a small 1-2 days plop as always. Not interesting yet.
Comment:
Had enough. Gold is extended and the pump is slowing down.
Currencies about to shine
Currencies about to shine
Comment:
Silver going first now...
It's in the bagholder area it will drop soon
It's almost the end of the week and the first 3 days burned me I just want to lay back and do some backtesting and read articles or watch videos.
I'll wait for a larger pullback and then a new trend up.
Got enough out of this week.
It's in the bagholder area it will drop soon
It's almost the end of the week and the first 3 days burned me I just want to lay back and do some backtesting and read articles or watch videos.
I'll wait for a larger pullback and then a new trend up.
Got enough out of this week.
Comment:
I would buy some silver on the pullback.
Expecting gold to slow down and silver to go fast now.
Expecting gold to slow down and silver to go fast now.
Trade active:
Boom in silver right now let's go
Comment:
Should have sold gold and bought silver
Gold bulls picked the wrong horse
Gold bulls picked the wrong horse
Comment:
Trade closed: stop reached:
Gold too heavy dragging silver down. I hope this was not the bottom.
Join me on Telegram: π²π²π² https://t.me/MrRenevGambling
Also join my discord you will find the link in my telegram channel
Also join my discord you will find the link in my telegram channel
Comments
Nice analysis! Still longing Gold until 2.1K, Silver 30$ EOW. But those are just my thoughts. BTC needs to break 11.3 and stay above...next big thing is 11.6K - but super bullish on btc mid term
Reply
I really enjoy your posts - although sometimes you use so much sarcasm that I dont know whats up or down.:) What is your recommendation when it comes to long term gold investing. I see two possibilities, maybe you see more: 1) Buy some gold sprinkled across the year (and keep money in the bank for larger retracements). Or 2) Just buy as much as possible over the next few weeks in the minor retracements we will see. Normally I would go for option 1, but the massive devaluation of the dollar, upcoming election, large amounts of young people sitting at home, investing their Corona aid in hail mary stock would makes option 2 more interesting. Would love to hear your opinion.
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@madsellegard, I'd buy on every pullback. The USD won't go to 0 instantly. You could buy some now, and then add later for example.
I would myself have some just as a safety and then add as it trends up with my eyes on 3000 or even 5000 as a target, potentially more who knows what will happen in the next years.
I would myself have some just as a safety and then add as it trends up with my eyes on 3000 or even 5000 as a target, potentially more who knows what will happen in the next years.
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@MrRenev, Thanks! Your chart touched another just as important point - when to exit. Not sure if its the best strategy to exit before it goes much higher, but would love to hear your opinion. Of couse you could exit at a local high. But whos to say that it wont just keep going up like Tesla or Apple and then you missed the bus and spent a lot of time watching the computer. Here im talking long term investing, not day trading.
Yeah I agree, the dollar shouldnt go to zero right away. On the other hand, maybe gold will spark the intest of a lot of hobby traders and then we wont see will see a bitcoin like parabolic growth - not stairstep growth like now. My point is, maybe the dollar is not the only factor that will drive gold price up. Global speculation/fomo is at an all time high and it seems like a lot of people are just buying what the rest is buying. Not saying its the truth. Just stuff I have been pondering for a long time.
Yeah I agree, the dollar shouldnt go to zero right away. On the other hand, maybe gold will spark the intest of a lot of hobby traders and then we wont see will see a bitcoin like parabolic growth - not stairstep growth like now. My point is, maybe the dollar is not the only factor that will drive gold price up. Global speculation/fomo is at an all time high and it seems like a lot of people are just buying what the rest is buying. Not saying its the truth. Just stuff I have been pondering for a long time.
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@MrRenev on a side note. Real estate; Do you think the prices can keep going up? I have been watching on the sidelines wating for a retracement in prices, but it never came. Now im wondering if there there is something im missing. Obviously low rates and free money for everyone is good for real estate but it seems like a big pyramid scheme to me. The only reason high prices can be justified, is because some of the people owning homes, already made a lot of money selling their previous homes. But to me that doesnt sound sustainable. P.S. sorry for the post high jack. Will delete this comment if its confusing to the overall message of this post.
Reply
@madsellegard, Bitcoin at the start was an answer to the global financial crisis if I understood correctly, and early adopters were buying for libertarian reasons and as an internet currency and for buying illegal stuff and dodging taxes.
Then in 2017 it went super parabolic and mainstream and nutjobs called for a new paradigm where Bitcoin was the new gold and would be the world new currency and a store of value and bla bla bla.
Any reason for price go up is a good reason. They started looking for use cases as reason for the price to go up rather than the other way around.
Gold can and probably will follow the same with first going up as a hedge for us dollar bagholders (this is what it was, central banks china and russia were transparent they let every one know they were buying gold for this very reason) you also had "sophisticated" investors getting in early because they recognized the power and potential of gold, then you have speculators holding for months weeks or even lately hours as I did that added fuel, right now we are in the mainstream/CNBC "it will fall down" phase where mainstream does not care yet, and it's probably imo going to go really ballistic missile and then you'll have the big casual herd making crazy calls.
The difference is everything is being shared and everything so the rally already has some casuals but not th eoverwhelming majority yet.
Hedge funds which are the last step before the shoe shine boys have completely ignored gold and have not even started to buy.
They will buy before the last parabolic spike and during that spike.
Shoe shine buys like with crypto will buy mostly in the last parabolic spike and after this "buy the dip" and view other amateur casuals that got lucky and "bought gold as early as $3000" as genius they should learn from (just like with Bitcoin "early adopters" from early 2017 - $2000=.
Then in 2017 it went super parabolic and mainstream and nutjobs called for a new paradigm where Bitcoin was the new gold and would be the world new currency and a store of value and bla bla bla.
Any reason for price go up is a good reason. They started looking for use cases as reason for the price to go up rather than the other way around.
Gold can and probably will follow the same with first going up as a hedge for us dollar bagholders (this is what it was, central banks china and russia were transparent they let every one know they were buying gold for this very reason) you also had "sophisticated" investors getting in early because they recognized the power and potential of gold, then you have speculators holding for months weeks or even lately hours as I did that added fuel, right now we are in the mainstream/CNBC "it will fall down" phase where mainstream does not care yet, and it's probably imo going to go really ballistic missile and then you'll have the big casual herd making crazy calls.
The difference is everything is being shared and everything so the rally already has some casuals but not th eoverwhelming majority yet.
Hedge funds which are the last step before the shoe shine boys have completely ignored gold and have not even started to buy.
They will buy before the last parabolic spike and during that spike.
Shoe shine buys like with crypto will buy mostly in the last parabolic spike and after this "buy the dip" and view other amateur casuals that got lucky and "bought gold as early as $3000" as genius they should learn from (just like with Bitcoin "early adopters" from early 2017 - $2000=.
Reply
@MrRenev, Yes thats the scenario I thought could play out - only you explained it much better:). Although I still have the humility to know that the market does whatever it damn pleases.
Reply
Could be about to fly up.
US DOLLAR approaching the lows. Could fly down.