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S W
Member since May 2012
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Desperate Gold Bulls Cry Manipulation

- Sam Kirtley - Sk Options Trading

What is "ludicrous" (kirtley), is when an analyst shows a EOD chart showing a support break and then stating that the bull market is over.
Take a look at a monthly chart.
There was a reverse end of Sept 2011 and then a consolidation till last month with close at 1467..

So if you got out there and declared a $400% profit you are up for about 40% capital gains tax.
So you are left with a position at about $1100 gold but with cash sitting in the bank which could be confiscated haha.

Support long term is about $1033 and still in UPTREND. Granted it could go there but you will be no better off.

Manipulation or not, long term holders of gold can cover their positions in various ways.
I am in the manipulation camp but it makes no difference and so it should to everyone else.
Hold your gold and listen to nobody. There will come a day when gold is not for sale.

Commented 3987 days ago

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Beginning of the headline :The levels that markets are traded at are not open to interpretation; they are clearly defined. If one believed that the market were going to rise over a specific time period, and instead they fell, then one would be wrong. No matter what kind of reasoning you employ, the fact of the matter is that when the market says that you are wrong then you are wrong. If one finds themself in such a situation, the best thing to do is to admit that you have called the market wrong and re-evaluate your entir... Read More

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