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TFC Commodity Trading Forum

Re: Euro and Gold Correlations and Paulsons/ Jay

Hi Jay, I just wish to thank you for the heads up when gold was trading around $1800 and evryone was screaming for higher gold prices but you pointed out the elliot retracement of 7/8 and it was a common place for bull markets to fail....
And then I was reminded that being a contrarian to the hype is usually the best place to be...this following the technical aspects of the strong divergences in place since the highs of just over 1900 made it seems obvious the right thing to do was to sell....
So I sold all of my physical gold holdings near this level holding my breath at the same time that we would not break to new highs...

Well, the rest is history and I just want to thank you for your help in making this decision...

I am currently holding a coupla silver puts at the money....I hope we get at least another big downside day in the next coupla days and then my trading account will also be doing well after my fiasco at attempting to find a bottom in natgas....lol...

I hope you are doing well!

Cheers!

Messages In This Thread

Euro and Gold Correlations and Paulsons Hedge Fund *LINK*
Re: Euro and Gold Correlations and Paulsons/ Jay
Re: Euro and Gold Correlations and Paulsons/ Jay *LINK*