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HOT TOPIC Silver, the Poor Man's Gold

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BurnBright

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Oct 8, 2009
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Looks like Gold (GLD) is also flirting with producing a downtrend(will establish a lower low with a close below 105.31). SLV already has by my definition but that support you point out is the only caveat. I always look at the reasons why to buy Gold or silver as the main driving force behind the price and things may be shifting here from stagflation and inflation worries to a situation where the majority expect or worry about weak to flat growth with mild to flat cost pressures. The second situation is not good for Gold/Silver. I also think that after the hysteria that was seen in the gold market before the last peak that the matrket needs to experience the pain this market can deliver meaning $900 or the $90 level in GLD is probable if these levels get taken out. For the SLV $14 looks like a magnet. Too many people that do not even remotely understand economic reasons to own gold own it at this time IMO.

edit: Only read your last post Mj before posting this. We may have differnt reasons but looks like we may be looking for the same thing.
 

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MJ DeMarco

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I opened a gold position lotz of currency volatility around the globe and I think gold might be headed for a nice short-term spike. Could be a good short term trade!!
 

max momo

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Mar 15, 2008
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PhxMJ,

Why do you think a short term trade is in order?

Didn't the 13 Day Exponential Moving Average (DEMA) break through the 50 DEMA just last week? This ius bearish, especially against a 100 DEMA in a downtrend.

The buy volume yesterday was above average, but the two most recent buy volumes above average are both underwater positions.

Since February the chart has produced a very bearish formation called three peaks and a domed roof.

On the bull side, the money flow has turned up over the past couple weeks.

AND, if you think Gold is going up, why bet the slowlane (GLD) and not a more fastlane triple-pegged ETF, or at least the miners (GDX, HUI)?

(FWIW I have been overweight the white meatals over gold since late last year)
 
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MJ DeMarco

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My buy was based on the Money Flow, RSI and a Lower bollinger hit --- that with currency chaos, and I'm in. Also, when I say short-term, I mean a few days to a week or so. I rarely use leveraged ETF's as I prefer to double up on the base ETF.
 

Rem

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Hope it works out. I am completely out of gold and probably won't get back in for a while.
 
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MJ DeMarco

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I opened a gold position lotz of currency volatility around the globe and I think gold might be headed for a nice short-term spike. Could be a good short term trade!!
Closed out today ... an easy $10,000 in 10 days. In at 106.70 out at 111.45.

Total time investment: About 15 minutes.

:banana:
 

max momo

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Well, Maloney wouldn't sell many books or coaching time or newsletters if he said INSTEAD of Quntupling in a year silver will continue to grind higher in a trending range as it has for the past decade...
 

faq88

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Oct 14, 2009
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I agree with Max on this one. Maloney and Kioysaki probably bought a lot of gold and silver a long time ago when it was much cheaper. Now they seem to be pushing the world to buy it. I'm not trying to get a conspiracy going, but it makes sense for them. You should do the same due diligence with gold and silver as you would with any stock or Real estate investment. The stock market seems to be on the move up right now. Read some books. I just finished How to Make Money in Stocks and think its a great resource to pick winning stocks. Also two words for you..... TRAILING STOPS!!!

Best of Luck
 

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Jana Jackson

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This is very interesting. I know gold is the ultimate to invest in, but silver is also good. I have been monitoring the prices of silver in the markets, and they seem to do pretty well too...
 
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MJ DeMarco

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This is very interesting. I know gold is the ultimate to invest in, but silver is also good. I have been monitoring the prices of silver in the markets, and they seem to do pretty well too...

Promotional signatures are prohibited until you a known contributor. While your statement above contains a lot of words, it says virtually nothing which means you aren't here to contribute, but to promote. Signature removed. If I am wrong, I will apologize.
 

ramy98

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I agree with Max on this one. Maloney and Kioysaki probably bought a lot of gold and silver a long time ago when it was much cheaper. Now they seem to be pushing the world to buy it.

Kiosaki is on record stating that he bought silver at $3 USD an ounce and that he is out and not buying anymore...
 

ramy98

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Silver has been on a great run as of late... As of the time I type this its at 20.32 USD........
 
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MJ DeMarco

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Gold is at an all time high and the USD is sinking. Might be time to be worried about hyperinflation.
 

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