Gold

[etftalk]

Count me confused. Hit my stop @ $32, trended down to $30.83. Now $32.50.

That was the prefect spot for a failed rally after Friday's low was taken out. Here's a 5-day chart...



I thought about shorting it near 32.50, but decided I better not risk day trading since I sold it already this morning.

[XL-entLady]

That wacky GOE is at it again. Up over 20% on the day. I really need to keep a closer eye on that one.

Lady

[XL-entLady]

I've mentioned before that I have core positions in GTU, GDX and SLV. I'm starting to grit my teeth every time I look at the daily charts on those positions. But yesterday one of my subscribed information guys explained better than I can why I'm holding on:

"I’ve had countless emails asking me why I don’t want to sell my miners. Here’s the way I look at; if I thought we were going to see one more leg down for gold to new lows then I would gladly sell and look to get in as close to the bottom as I could. However at this point I’m not confident that gold does have another leg down. That doesn’t mean that it won’t happen just that I’m not prepared to invest under that assumption.

The fact that gold has broken the downtrend and is making higher highs and high lows has me believing we saw the low back in Oct. So at this point I’m not willing to lose my position. In a bull market you never know when the correction will end.

I’m sure most of you have noticed by now that often when the precious metals rally it happens right at the open or even as a gap up and it quickly gets away from you before you can react. Silver is especially notorious for this. If you aren’t in you risk missing the move. So at this point I’m not willing to risk missing a move. That means I will “sit tight” with my positions. "

So I'm still holding my precious metals positions and will continue to do so as long as I can stand the pain. (Um-m-m. Sounded like Birch there. OOH, I scared myself. )

Lady

[etftalk]

Silver is looking interesting with the reversal day yesterday. You got me thinking.

[JTH]

The Sto on XME has turned over, and I suspect GLD and SLV are right behind the turnaround. Perhaps yesterday's hammer on SLV is a good sign?

[JTH]

The Sto on XME has turned over, and I suspect GLD and SLV are right behind the turnaround. Perhaps yesterday's hammer on SLV is a good sign?

Opps, guess I should add I use a 9,3,3 Sto

[XL-entLady]

Anyone got any ideas why GTU isn't holding up percentage-wise with GLD? We won't even want to compare either of them to that wacko GOE, by the way. It's going nuts again today. And I'm not in it.

But back to the original question, GTU vs. GLD, thoughts anyone?

TIA,
Lady

[etftalk]

No idea.

Per Yahoo profile: http://finance.yahoo.com/q/pr?s=GTU
"Central Gold-Trust primarily invests in unencumbered gold bullion. As of September 30, 2003, the company’s gold holdings were 82,619 fine ounces of physical gold bullion and 4,581 fine ounces of gold bullion certificates. The trust is taxed as a mutual fund trust for income tax purposes, pursuant to which it distributes all taxable income earned by it to the unitholders and deduct such distributions for income tax purposes. Central Gold-Trust was established under the laws of Ontario in April 2003; and is headquartered in Ancaster, Canada."

[Ryan]

What is with that GOE? I don't understand how it moves that much. GLD is not even up 1% today and GOE is up about 56%.

Anyone got any ideas why GTU isn't holding up percentage-wise with GLD? We won't even want to compare either of them to that wacko GOE, by the way. It's going nuts again today. And I'm not in it.

But back to the original question, GTU vs. GLD, thoughts anyone?

TIA,
Lady

[etftalk]

What is with that GOE? I don't understand how it moves that much. GLD is not even up 1% today and GOE is up about 56%.

You got me Ryan. I have been watching it (GOE) today, and I am a little concerned with how it's trading. It may be a little tricky.

Yahoo shows it at $79, while Scottrade shows 87.90. Both are supposed to be realtime.

The bid on Scottrade is $83.00 and the ask is $87.90, which means as soon as you buy it, you are down almost $5 a share.

Volume is only 25K right now. That is way too light for me. Can be manipulated very easily.

Maybe consider UGL instead, which is an ultra gold ETF (move about 2 X gold and GLD)