The coming Gold crash

[Prophecy]

2 hours ago, dicker said:

I think you win the award for the longest sentence on the forum.

Best

Dicker

Charlie.

[dicker]

And the shortest sentence in the forum.

Best

Dicker

[Wonger]

Very useful posts, in the meantime were shorting the Gold futures clean through $1800 today, are you preparing to lurk and slurp again? maybe not a good idea 😉  

[dicker]

When you say were, do you mean we are, or we were?

Best

Dicker

[TheApe]

Whats lurk and slurp?

[Wonger]

1 minute ago, TheApe said:

Whats lurk and slurp?

Please keep up 😁

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Added 0 minutes later...

3 minutes ago, dicker said:

When you say were, do you mean we are, or we were?

Best

Dicker

All three 

[Martin1983]

@Wonger I know nothing about these short positions you take I have googled a little bit but as gold keeps going up at the moment are you losing money daily? How does this work?

[Wonger]

Commercial 303,000 contracts net short, not much change this week, I expect next week will be a larger change

[Wonger]

On 10/07/2020 at 22:15, Martin1983 said:

@Wonger I know nothing about these short positions you take I have googled a little bit but as gold keeps going up at the moment are you losing money daily? How does this work?

Trading Gold Futures, the most recent high was $1830 4 sessions ago, its currently $1813

[Booky586]

18 minutes ago, Wonger said:

not much change this week

Read as "Gold is rising"

 

21 minutes ago, Wonger said:

expect next week will be a larger change

Read as "Gold is still rising"

[sovereignsteve]

6 hours ago, Wonger said:

Trading Gold Futures, the most recent high was $1830 4 sessions ago, its currently $1813

when do those expire? ie when do you have to cash in your losses by?

you must have some open shorts at well below current prices.

[Wonger]

12 hours ago, sovereignsteve said:

when do those expire? ie when do you have to cash in your losses by?

you must have some open shorts at well below current prices.

Any contracts that expire get rolled into further months out, there are positions currently that are in loss and profit and stops are used on some but not all positions, the price is down $30 from the recent high at $1830, the bigger picture is that my target is $385, that is $1415 downside and an overall position that is $100 underwater is par of the course as I have a view and it will not change until substantial further continued upside occurs. Equity update is still long SPX target $3328-38 have lightened up a bit and will sell rest at $3328-38 area and go short. 

[5huggy]

The word "RATIONALISE" comes to my mind, following this thread!

That is 

Some are telling

THEMSELVES -

"RATIONAL LIES"!

😉🤣👍

[Wonger]

10 minutes ago, 5huggy said:

The word "RATIONALISE" comes to my mind, following this thread!

That is 

Some are telling

THEMSELVES -

"RATIONAL LIES"!

😉🤣👍

Gold in GBP is lower than 2 months ago! 😉 

[5huggy]

10 minutes ago, Wonger said:

Gold in GBP is lower than 2 months ago! 😉 

BUT !

MASSIVELY UP from 5 years ago! 😉👍🤣🤣🤣

[Wonger]

8 minutes ago, 5huggy said:

BUT !

MASSIVELY UP from 5 years ago! 😉👍🤣🤣🤣

Lets hope it does not go "MASSIVELY" down soon when Trillions of Debt defaults cause Currency supply destruction and Deflation! 😉

[5huggy]

6 minutes ago, Wonger said:

Lets hope it does not go "MASSIVELY" down soon when Trillions of Debt defaults cause Currency supply destruction and Deflation! 😉

NOW that's a VERY VALID point @Wonger - 👍

but as you are no doubt aware - if that scenario presents and value falls sufficiently - it will ALREADY be a "BUY" signal for those with Currency aplenty - 

So goes back up from "elites " purchasing 😉👍

ALL IMHO! 👍

 

[Wonger]

5 minutes ago, 5huggy said:

NOW that's a VERY VALID point @Wonger - 👍

but as you are no doubt aware - if that scenario presents and value falls sufficiently - it will ALREADY be a "BUY" signal for those with Currency aplenty - 

So goes back up from "elites " purchasing 😉👍

ALL IMHO! 👍

 

Yes a very valid point indeed as even those who purchased 5 years at $1050 will see their "MASSIVELY" gains turn into "MASSIVELY" losses on the way to $385!😉 

[Booky586]

1 hour ago, Wonger said:

Gold in GBP is lower than 2 months ago! 😉 

Wrong again. Gold is higher today (currently £1438.54, at 10:15am, 14th July) compared to 2 calendar months ago on 14th May when it reached a high of £1424.52

Source: https://www.chards.co.uk/gold-price/gold-price-history

Edited July 14, 2020 by Booky586

[Wonger]

49 minutes ago, Booky586 said:

Wrong again. Gold is higher today (currently £1438.54, at 10:15am, 14th July) compared to 2 calendar months ago on 14th May when it reached a high of £1424.52

Source: https://www.chards.co.uk/gold-price/gold-price-history

In 4 Days it will be £21 lower than 2 Months ago at current prices, sorry my mistake, I will re post in 4 Days time 😁

[Goldhooked]

10 minutes ago, Wonger said:

In 4 Days it will be £21 lower than 2 Months ago at current prices, sorry my mistake, I will re post in 4 Days time 😁

So you actually mean in 3 days time then 😉

[Wonger]

5 minutes ago, Goldhooked said:

So you actually mean in 3 days time then 😉

No as I think I may be busy Friday at the Gold Bears Party after taking $100 off the Futures price in 9 days as only $61 to go and were just warming up! 😉

[Goldhooked]

Just now, Wonger said:

No as I think I may be busy Friday at the Gold Bears Party after taking $100 off the Futures price in 9 days as only $61 to go and were just warming up! 😉

In that case if you do mean Saturday 18th then you are actually using the price of Friday 17th. So are you comparing with May 17th or May 18th in your 2 month time frame?

[sovereignsteve]

2 hours ago, Wonger said:

the bigger picture is that my target is $385

you know that won't happen😉

[Wonger]

10 minutes ago, sovereignsteve said:

you know that won't happen😉

Your quite right as the price will probably overshoot to the downside below my target price of $385 that day 😁