0. "BEIJING: China's gold consumption fell for the first time in three years in 2019, figures released by the country's gold association showed yesterday, as high prices and an economic slowdown hit buying in the world's biggest gold market."
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I don't understand! We have a global meltdown virus, negative rates, and the market keeps going up. Why is Gold stuck at $1550 and won't go higher? Is it consolidating? No. You are about to understand the scientific financial term "order absorption". And what happens after all the buy order are absorbed...
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Looks like GLD is about to crack.
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And Yes, Pro is right...
Trade active
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Not sure what is going on here gents, but GOLD seems to be starting is downward descent back into the channel, downwards channel, where it belongs...
What is this? A last ditch effort to save GOLD? Forget it. New Secular Bull Market according to the Davos crowd. What happens to GOLD in a secular semiconductor driven secular bull market? Look at Gold from 1996 to 2000. It went from $400 to $200 an ounce.
See you at $1000 Gents, come March Break.
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Okay, we are currently holding significant PUTS on GOLD, and we have a substantial LONG share position in the pre-market. We are delta neutral, and we are going to scalp GAMMA on GLD, whichever direction it goes from now on. We will boomerang this as gold sine waves over Virus Madness, we will kill it both ways, and then hopefully hold our LONG TERM PUTS for the KILL. Every spike in GLD, we sell. End of Story. Every spike we SCALP.
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GLD seems to sine wave around $146.60 which is GOLD $1550, so $1500 and $1600 should make us a killing. Then we use the LONG term puts and either sell AFTER CLOSE, or BUY depending, and in the pre-market we BUY or SELL depending on the DELTA of our Neutral position. We make money as it sine waves, and the rest just wait for "CONFIRMATION" of direction.
Our strategy is mathematically superior in every single way.
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We make money on moves, and that pays for THETA, plus NICE profit.
And for those that would like to comment negatively, that is fine. We take positions BEFORE things happen, the rest of you wait for confirmation and almost always lose. Stay tuned. When you smash the market 29 out of 30 years, you better listen.
Reitak
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lol sorry, but what the hell is this??? its quasimodo, or what pattern? absolute no agree with HaS
Reitak
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@Reitak, small left shoulder, right shoulder higher than head ... and you are pro? please cmon
@drchelsea1, $1550, then $1500, then $1450, then over...
drchelsea1
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@drchelsea1, And we have only lost money in 2007, we have made money consistently for 29 out of the last 30 years, with substantial market out performance. You?
drchelsea1
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@drchelsea1, It is a neural network predicting the future. Simple. "What the hell is this?"
Reitak
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@drchelsea1, no matter if it go down , up right left ... i wrote about pattern HaS what is not, learn, then post something