Similar Double top pattern in Gold as in Silver before the correction

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Aug 19, 2011.

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  1. SilverSanchez

    SilverSanchez Active Member

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    You guys who are chart guys, have a look. Very similar patterns, gold is almost parabolic and all the media attention its getting with new highs WORLD WIDE! - very prime for a correction, which has implications for stocks. Is it possible that a correction in metal could be the catalyst for the stocks to play catchup?

    Standard strategy is long metal short stocks, in a correction that would be taken out giving stocks a possible free run for a while. What do you guys think?
     
    SilverSanchez, Aug 19, 2011
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  2. SilverSanchez

    SilverSanchez Active Member

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    Also another thing to ponder - Gold and Platinum are at parody... WHAT DOES THAT MEAN? :) Oh the world is turning upside down :)
     
    SilverSanchez, Aug 19, 2011
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  3. malachii

    malachii Well-Known Member

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    Charts and current market hysteria, backed up by mainstream media are indicating tops to me at the moment. There are other signs as well but not discussable on here (not taking the abuse this time round).

    malachii
     
    malachii, Aug 19, 2011
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  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Except that US and Europe markets are crashing and gold is still the safe haven, Asia is going hard and heavy into gold and silver, and China now allows and indeed encourages their 1.2 billion citizens to buy physical metals. We haven't seen a situation like this before, so it's unknown territory from here onwards. I can only see a downward "correction" in gold if the markets get good news. Fat chance of that now.
     
    Shaddam IV, Aug 19, 2011
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  5. tthace

    tthace New Member

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    Gold will probably just have a mini correction and ending the year on around 2k.

    I wonder how inflation is going to play a part this time round.

    What im guessing is future IR cuts and perhaps the AUD going to 90c vs the USD. That should negate any short term drop in gold.
     
    tthace, Aug 19, 2011
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  6. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    It's new ground I think. Economies are grinding to a halt around the world. The only safe haven people know is physical gold.
     
    RetardedMonkey, Aug 19, 2011
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  7. SilverSanchez

    SilverSanchez Active Member

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    All the safe haven talks are right but if Gold metal doesnt correct now it will be a massive blow off later and be worse. If i dont see a good correction in Gold soon - thats scary news...

    Its like being in a big boat, the waves rock the boat and then all the passengers run from port to starboard anticipating the rises and falls - the waves go away and the only momentum is created by the passengers.

    Im tired you work out the analogy :)
     
    SilverSanchez, Aug 19, 2011
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  8. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Is it too soon to have a "Gold is in a Bubble" Thread?
     
    Jislizard, Aug 19, 2011
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  9. Peter

    Peter Well-Known Member

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    I think the silver wave was driven by greed,whereas this gold wave is driven by fear.
    It wasn't fear of an economic crash driving Silver.
    If the Economic downturn continues so will golds rise.
    Seems the best bet going.
     
    Peter, Aug 19, 2011
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  10. tthace

    tthace New Member

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    And to add to that.... Gold hasn't seen the sell off we have seen in the GFC....

    Unless there is some magical spell that can cure the markets in a year.... i can't see it crashing that low.
     
    tthace, Aug 19, 2011
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  11. SilverSanchez

    SilverSanchez Active Member

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    Yes because its not in a Bubble :)

    if it doesnt correct and goes straight up (parabolic) the higher it goes without correction the scarier... after doubling from here maybe you could talk bubble... but def no bubble talk yet unless you have bubbles for brains and dont understand what is going on. :)
     
    SilverSanchez, Aug 19, 2011
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  12. SilverSanchez

    SilverSanchez Active Member

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    This time is not different :) just wanna say that now...
     
    SilverSanchez, Aug 19, 2011
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  13. malachii

    malachii Well-Known Member

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    I agree - if it keeps going up as it is (parabolic - ish) then we can talk bubble. At the moment it is starting - only starting - to show correction indications (IMHO).

    malachii
     
    malachii, Aug 19, 2011
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  14. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    That does sound a bit like me.

    However the only reason I ask is because my wife told me the Dow was down and gold was at $1800, and she didn't hear it from me!

    I know it isn't in a bubble though because when she continued by saying it was going to go to $2000 and I responded by saying, "OK, let's buy some at $1800 and sell it at $2000". She said we couldn't afford it. when my wife says we should buy gold I will be sure to post it here so we can start unloading it.
     
    Jislizard, Aug 19, 2011
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  15. malachii

    malachii Well-Known Member

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    Love it :)

    malachii
     
    malachii, Aug 19, 2011
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  16. Goldrush

    Goldrush Member

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    I love that as well, please let us know when she gives the nod that would be Gold. :lol:
     
    Goldrush, Aug 19, 2011
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  17. hawkeye

    hawkeye New Member Silver Stacker

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    Oh come on, don't worry about that. Some of us want to hear reality (or at least what others perceive as reality) rather than just "Gold to the Moon!!!!" talk.
     
    hawkeye, Aug 19, 2011
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  18. jnkmbx

    jnkmbx Well-Known Member

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    Yea man, just come out with it :p
    We've all been grilled at least once on here, one way or another :lol:
     
    jnkmbx, Aug 19, 2011
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  19. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    Are you serious?? gold is almost parabolic you reckon? :lol:

    The only thing thats parabolic is western debt
     
    Yippe-Ki-Ya, Aug 19, 2011
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  20. SilverSanchez

    SilverSanchez Active Member

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    Where was all your laughing when silver corrected 30% :)
     
    SilverSanchez, Aug 19, 2011
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