Thursday, July 17, 2008

Speculative Gold Play

EGI - Entre Gold




10 comments:

met61 said...

Allan,how much do you factor in industry group strength?
Thanks,Ron

Allan said...

Ron, a lot.

Anonymous said...

No Hope Left?

I’ve been reading this blog for a long time, consistently pulling down good money in doing so.

With:

1) the economy tanking,

2) commodities and inflation rising,

3) Jobs Bing lost at an astonishing rate

4) the stock market in a bear mode

5) with charlatans Like Cramer giving “advice”

My question is:

Is there anything we can do to save ourselves and ensure our families’ protection from the upcoming devastation other than following Allan and his trading, investing and economic advice?

Harlan in International Falls, MN

Anonymous said...

Allan:

Are you a "GoldBug" or just bullish on gold.

Paul

Allan said...

Paul: One doesn't have to take sides here, GoldBug or Pollyanna....the charts tell all, nothwithstanding hiccups like the one we are in this week, Gold is in an uptrend and Western Economic Stability is in a downtrend. This too shall pass, but in the meantime, let's make a fortune.

Anonymous said...

Allan:

We cannot, by definition "make" a fortune.

Wealth is neither made nor lost it is simply transferred from one venue to another.

So we DO in fact need to take sides. I would prefer to take the receiving side. Which side would you prefer?


Paul

Cruiseguy said...

We need to be nimble, ready to change sides when dictated by the market...I need some large sums of money transferred to me....But if there are more people on the planet and the quality of life is at its highest then hasn't the entire pie grown, not just transferred from venue to another?

Cruiseguy

Anonymous said...

Cruiseguy:

No.

Paul

Anonymous said...

Commercial futures traders appear to be shorting gold 3:1.

Normally I would be going long gold but they scare thew hell out of me.

What's your take Allan?

Allan said...

I've always had better results going with the charts over trying to predict, no matter how compelling the argument.

Good discussion of Oil and Gold vis a vis commercial traders, here:

http://twocents.blogs.com/