Just fantastic.
The recent surge in gold now wiping out the “bottom pickers” and providing excellent long term opportunity across the board. This is the dip to be bought.
The price of Gold is now the exact same as it was back on May 14th! We’ve timed it perfectly, and haven’t missed a thing.
I’m still waiting for lower in both Gold, Silver as well the related mining stocks but as of today one can “offically” get it on their screens, and start creating those short lists.
EXK has always been a favorite of mine, but “it’s all gonna go” in the same upward direction once this pullback runs its course.
A blast from the past: Gold Going Down
You’d have to imagine that “letting gold out the basement” has some pretty braod sweeping implications…one being…..now that The Fed has losened the grip one can imagine that USD will also be allowed to move higher – as the “massive dilusion” will once again be masked with both Gold and USD moving higher medium term.
Fantastic!
Kong….you are all ego and project appearances of having a superior read of the market. This most current post reflects that you dismiss the cyclical nature of commodity stocks. You could have purchased gold at a cycle bottom and ridden it up to the recent cycle high as that appears to be the first leg up on the trend reversal in precious metals. Commentary and analysis of that would be far more interesting to read about rather than the drivel you espouse about how now that you have called the all clear on gold we are safe to wade in.
I don’t know….its sounds more like someone’s just a little choked they just got hammered for 30 bucks an oz maybe?
I’m fine with the my market calls thanks….you can do whatever you want obviously.
Thanks for the tips / feedback.
You should read The Black Swan by Nassim Taleb. I am in the camp that every portfolio should have 5 – 10% in gold…core holding, don’t trade the wiggles so couldn’t care less if it goes up $30 or down $30 on a given day. I am more interested in 3 years out.
But really…you should read your own posts. Admonishing your readers for not getting it,,,but Kong on the other hand always has a perfect read on the market. I initially read your posts because the currency analysis was a perspective I was (and am) interested in an when you stick to the analysis I find it valuable. However, your rants about how good you are and how bad everyone else is is getting quite old!
Ill bite.
I don’t see reference in today’s post about “being better than anyone”, nor do generally write along those lines ( with exception to one gentleman in particular).
I don’t know how many times I’ve suggested / written that “gold is not a trade” but apparently you’ve got some “selective reading going on”….I don’t care if it goes up or down 30 bucks either – but obvioulsy “attempt” to time my market entries the best I can.
Something wrong with that? Something wrong with pointing out today’s pullback as a fantastic opportunity? Something wrong with being a gold bull , and “just today” looking at possible entries?
It’s like you guys think you’re the only people on Earth reading this stuff and that every word is aimed at you..likley because you’re underwater / emotionally strained.
What about the hundreds of other readers that tuned in today to get a great tip / market call?? What about the “new guy” just getting into gold?
What about those who may have followed along for some time “trusting” that “indeed I do” hit some pretty nice entries etc?? Oh…..ya Ok…..you’re choked about your own situation so…..my calls suck…..I think I’m better than everyone else…..I should “curb my tongue”…
How bout stick to making money / trading…..and for fun – you can start your own blog too!!
OK…I’ll bite too. let’s stick to trading. You didn’t time it perfectly. Had you timed the entry perfectly, you would have posted in first week of June when gold was $1240 and ridden the first leg up to $1340. So, perhaps an entry here is good for the 2nd wave up but the real story is the analysis of where gold is. Your post focused on promoting how you called that gold would go down and now you think it is going to go up. Fine….but how about telling us what your analysis is here. Gold has been in a bear market for the past 3 years. Are you suggesting that the bear is over? Are you suggesting that it is a good entry point for the foreseeable future or is this just a bull market rally nestled within the secular bear. Your reference to your previous post is also misleading as gold did go down somewhat but is still higher today than when you posted that previous post. My point is that none of that really matters….maybe you are a little late in posting that it is a good entry point…nobody can call it perfectly. But your post would be far more valuable if you added some substance to your analysis instead of just saying good time to get in and btw I called it perfectly if you look at my previous post.
And really Kong…why is your response always turning it around and suggesting that I have some axe to grind? If you want to create a blog and charge for a subscription is it really out of line to expect some feedback? I simply suggesting that you might get more feedback if you actually provided your analysis instead of the fluff bravado. Oh…36Devon….gone.
Last shot here.
You are looking for “predictions” as with so many of the other sites that “project” what they “think” is gonna happen, then draw all kinds of lines and arrows – only to see it go in the opposite direction…then back….then forth, again and again. I try my best to “trade what I see” as opposed to “I think this – and I think that”. Sounds totally wishy washy…as every single week these blogs flip to “well I was wrong about ….this didn’t do what I thought it would etc…” – That’s good reading? I’ll pass. Substance? Like….”well I guess the cycle turned lower here , as I was expecting higher….or….”duuh….I think it’s certain we’ll get one leg higher before the blah blah…..jibberish – means nothing, not tradable etc..
If you like reading that junk fly at it.
Gold is going up sure…but drawing lines at the “fib” or counting candles to hit the “cycle bottom” is generally just a bunch of garbage as everyone has been wrong about Gold ( including myself a number of times ) time and time again.
You don’t want to buy gold when I’m suggesting ( actually it was just a blog post – not even a “buy order”! ) cool!
I don’t see anywhere where I suggested I “timed it perfectly”, as I’ve still not even bought.
Things get turned around here because I can’t imagine “reasonable people” cutting into some guy at a free blog about his “pretty decent market calls” without some kind of emotional reason.
I would imagine you’re underwater on your gold trades, and not particularily happy about it.
LOL back on June 18 you tried to dismiss my long positions in gold that they were going back down. The very next day gold rose $40. We got in at the open on June 5th and got out on Thursday. During the process we booked a 17% gain on the metal portfolio with no leverage. We will get back in at the next daily cycle bottom and making real money rather than this imaginary money where you pretend your losers never happen.
What a joke.
Oh and the jokes will just keep coming.
I “bet” a couple members you’d chime on here today! Another win!
You keep trading like a pro there buddy….
Get your head wrapped around ” a single asset class” that you’ve been taken to the cleaners on for years.
You deserve a win! And hey! Who knows…maybe gold will dump another 20 bucks? Do you have a chart for that?
Umm….I think this might happen…but ooops….this is happening now so….now I’m perrrty sure this is the cycle peak , moving into the next blah blah blah….duh de duh duh…..
Now you’re “day trading gold” I suppose? catching the “swings” are you?
Now that’s funny.
Hey….is your website even online / functional anymore? Members must love that.
Dude you need to ease off the juice.
Testosterone, the root of all evil in the world… unfortunately also necessary for the continuation of the species.
You wanna post here and throw it around – no prob…..
Otherwise…..best to just crawl back under your rock.
Go take care of your own biz maybe….nothing to see here as you’ve already got gold “nailed down to a science” (only took 3 years)
Now that the lows are in – what could you possibly have to say / contribute over the next few years?
Zip.
Kong…how is your SPY shorts performing? I think it was puts that you played…options a ticking time bomb when it goes against you. C’mon….read your post on June 18th again. You ask your readers why they continue to flush their money down the toilet…or was that you talking to yourself…or the snake oil salesmen? Then you say that you don’t write that way? Your post today says that you’ve timed it perfectly and haven’t missed a thing???? You missed the $100 advancement in gold why you watched your puts erode as SPY surges to new highs? I ask you about analysis to at least understand how you assessed the set-up but you reply that you do not use charts, fibs or any other form of tech analysis. Your only response is to suggest that I am just upset that I have lost money? Huh?……c’mon Kong, time to face reality…you are maybe just a snake oil wannabe and that is why you have such a hard on for the guy?
Give you guys an inch….gotta take a mile then eh? He he he….
Well…..as boring as markets are these days…I guess a little “banter” can’t hurt filling in the time.
You poor fellows still haven’t grasped the concept of “small orders over time” have you? Not to mention the “countless number of profitable trades” that are made over 12-15 currency pairs in any given week.
Sept puts at 191 trade plan in full effect …and if you stay tuned you’ll catch me place a final order here any day soon.
Run along now little boys….for other readers sake – this is getting ridiculous.
I don’t understand the whole fuss about gold and silver. Mostly the discussions I follow on the internet circle around the question whether we already entered a new bull market. I’m really astonished. My gold and silver shares made more than a 100% YTD although we had a pullback lately. Even today after the gold raid my gold and silver shares were pretty stable.
Kong publishes his view on this blog for free and it’s really helpful. Kong just go on and please don’t get provoked too much! We all should behave nicely here as Kong can be a valuable resource.
He he he…..thanks Dress – I’ve allowed for a little “fun” today, and yes certainly see that a couple of girls here are upset.
Getting back to the task at hand…..looking into gold/sliver at these levels ( although I’m still waiting for a touch lower ) should make for a fantastic medium / even long term hold so….
That’s really all that matters.
Well, I’ve read the tirades above, and yes, I recall some of the prior posts DO seem a bit presumptive and berating. All-in-all I don’t know how your calls net out, Kong – I’m not currently in the market. But appreciate your ongoing perspective of things.
It’s Kong’s blog. He can say and write what he wants. Even ignoring basic orthography.
Really Dress…that’s the best you got? do you pull your pop pom’s out when you cheer on Kong!! Go spike go!!
You 36Devon!
I thought about what you’d said the other day with respect to my writing etc..and you’re right.
As of late ( considering how shit boring / flat markets have been ) I’ve had little interest in the “daily grind” and in turn my writing has sufffered. Please appreciate it’s tough to crank out something “mind blowing / all informative” day after day when markets offer little to write about.
I think I can get things back on track here ( perhaps even with the last few posts? ) to continue providing “something worth reading”.
Let’s put it under the bridge and keep this on the right track cool?
Sure….I have no axe to grind. Your last two posts were terrific. I know squat about currency markets so thatl posting was excellent for me. My feedback to you was simply driven out of frustration reading a blog post that is about the average joe investor (me) and being told that I don’t get it. No value in that. I like reading different perspectives and you could offer that.
Awesome man…..we are back on track.