first price target: GLD @100 (about US$1050) 2nd price target: GLD @90 (about US$950) . . . final price target: GLD@75 (about US$800)
You can always ignore windbags and trolls if you like. I have no doubt Leon checks the view count of his threads and is happy to see your posts. Most of the time I just ignore them.
I think that we could be looking at a U.S. dollar index of about 112 in the next 2 to 3 months.....looking at a chart of the index, it is currently similar to the index when its was at 90. Now the backtest of the 100 is done, the sky is the limit. This would work with Leon's short. So in short, I like Leon's short.
Even since silver spot broken below US$16 support; this level has become resistance. For the past few days, the resistance has been tested and it held down well. If Silver is unable to break above this level, Watch out below! Silver might try to test previous low which was reached last year, US$13.66 Should that happen, gold will see US$900 or less.
It appears that gold has topped; a dead-cat bounce fizzled so soon. Watch out below, US$1,050 is NEXT.
Is there any chance we can organise a boxing match between Nugget Hunter and Leon ? Battle of the stackers. Apparently Leon has pretty good short and long jab. :lol:
That's the point ! He is supposed to short it when he feels gold fails. Personally, I'm like you and prefer to have physical metals or any other physical class of investment. Let Leon have his fun. It would be interesting to see his timeline of profit / loss in years gone by. And this new call of gold at $900 and silver $13 US is a interesting call...He needs to specify a timeline. Till March is fair I'd say.
He is a trader real or not, Traders will make money on the down and upside, also lose money on the up or downside, they are playing the spread. Though the way he writes about it a little childish granted. Presumely if he is a not a troll but a real trader, when the spot trends up, he will be looking for and writing endless threads about smack up to make his spread.
I personally don't think it is realistic for $900 gold and $13 silver by march, but if Trump economics looks and sounds positive and Americans think it's a goer, and economic conditions improve I think it is possible in a year or two. Right now even with Italians banks at the brink, it barely gets a mention. Though a bank collapse now will have much less impact on tax payer.
Added one last short position on GLD @112.4 The dead-cat bounce prolly has reached its maximum target; IMHO.
