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Forum: The Stock Market

12-19-2005, 12:42 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

It really depends on the timeframe you utilize to define trend.

If you are long term trend follower, you'd likely trade the weekly chart and use the monthly and daily to pinpoint your entry and...

Forum: The Stock Market

12-19-2005, 08:51 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

The recent action in gold is playing out as a classic breakout.

The price tested the 500 area several times (past 3 years) and recently busted out to almost 540. It then returned to test 500...

Forum: The Stock Market

12-15-2005, 11:46 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Gold is Money

Money:
"Money is any marketable good or token used by a society as a store of value, a medium of exchange, or a unit of account. Money objects can meet some or all of these needs. Since the needs...

Forum: The Stock Market

12-14-2005, 04:37 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Good call on gold. It seems obvious looking back that gold would be strong after 911, hindsight being what it is.

I posted when gold was poised to assault the $500-510 resistance to instigate some...

Forum: The Stock Market

12-14-2005, 04:09 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Volume is a very important part of price action.

There has been a ton of volume here.

You can see that in these charts:

http://stockcharts.com/def/servlet/SC.web?c=gld
...

Forum: The Stock Market

12-13-2005, 10:40 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

"why would they sell now when their predictions appear to materialize?"

Because of the pain of holding on for so long while experiencing a negative return. They are actually VERY happy to sell...

Forum: The Stock Market

12-12-2005, 02:42 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

I'm a trend follower.

I perceive this thread has topped, and is now probably moving sideways...or likely, heading down.

And I've been a little overweight in terms of attention to this thread....

Forum: The Stock Market

12-12-2005, 01:41 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Yes.

90% of what is said about NEM applies to gold.

Gold is a better buy at $501 then $480.
Just like NEM is better at $51 than $48.
For about 90% the same reasons.

I respect all contrary...

Forum: The Stock Market

12-12-2005, 01:30 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

It is often 100% correct to WAIT and buy at X as opposed to X-1.

The reasons are related to the focused emotion of most players at pivotal price points.

Emotion of players are not distributed...

Forum: The Stock Market

12-12-2005, 12:55 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Yes.
49 is much riskier than 50. The basic premise is that all the miserable holders who bought at the previous high ($50) may still be around to exert selling pressure at $49. Once it closes...

Forum: The Stock Market

12-12-2005, 11:23 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

[ QUOTE ]
what makes you say this? Is it yesterday's close of $49.66 or today's pre-market trade of $50.75?

[/ QUOTE ]

Both items point to a possible above-50 close today. It's an...

Forum: The Stock Market

12-12-2005, 11:14 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

I dont want Sniper at my table.

Forum: The Stock Market

12-12-2005, 11:12 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

You passionately disagree and I respect that. For more information, please Google "trend following" and check out the theory behind "breakout". You will likely disagree with most of it. And that's...

Forum: The Stock Market

12-12-2005, 10:21 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

The discussed event (NEM over 50 on a closing basis) may likely occur today, on Monday, Dec 19 2005.

Forum: The Stock Market

12-12-2005, 10:18 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Warren,

"World" by Graham is $164 on Amazon.
Any way you know to access this book for far less than that?

"Storage" is $95 on Amazon. Any better places to get this book?

I'm Googling around...

Forum: The Stock Market

12-12-2005, 09:54 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

If thinking includes judgement, yes.

Listen, avoid judgements.
Follow trend, avoid predictions.

Note that prediction requires judgements.

The typical limiting judgement is that price is...

Forum: The Stock Market

12-12-2005, 09:00 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Newmont Mining is a good example. A close over 51 would be special.

Forum: The Stock Market

12-12-2005, 08:59 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

follow trends, avoid prediction.

Forum: The Stock Market

12-12-2005, 07:14 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

This gold rally is predicated on staying above the 500-510 price area on a closing basis. It looks like it will deliver on that pretty easily. It hit $540 in Asia on Monday.

When price gets higher...

Forum: The Stock Market

12-08-2005, 09:59 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Look at your dates for this statement. He later became a HUGE silver investor. Market realities change; ditto for informed opinions and sentiment. The best are quick to change beliefs quickly in the...

Forum: The Stock Market

12-08-2005, 09:55 PM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Re: Gold

Do your self a favor and just hold on to it. Dont trade it, it's a good holding. Consider adding/broadening out via the gold ETF (GLD) or a gold mutual like Fidelity Select GOld (FSAGX) or...

Forum: The Stock Market

11-29-2005, 09:32 AM

Replies: 59

Gold

Views: 397

Posted By Dan Mezick

Gold

Time to attune attention to this market.

Fevered reports of a NY close over $500 (highest since 1980's) coming soon, to a TV near you.

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