Gold, Silver and Other PMs

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Top 581. Feb 7, 2006 12:00 PM

» Normxxx - Gold and Silver Seasonals

Gold and Silver Seasonals

[ Normxxx Here: Sorry, we seem to have lost my original message prior to the CODA; here is a repeat. ]

I have already sold my Gold & Silver in anticipation of the February seasonal top, looking for the next lows around the end of June and August, although fast traders can take ST 'flying' trades at the end of February and April, but do not short the PMs for the forseeable future and add to LT positions around $500— and definitely below $500, once the price bounces and the (seasonal) trend is up. Respect the May and September tops.

I have a (very slightly in the money) PD LEAP PUT option.

I am still lookimg for just about everything to go down in 2006— including PMs, the dollar, commodities and the stock market— hence, don't look for any major corrections exceeding 10%. In fact the year could end with most things about where they are now. Maybe, still down a little on stocks and some higher on PMs and commodities. Likely lower on the dollar; but then again, I don't know why the dollar has shot up today.

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The contents of this letter/report does not necessarily reflect the opinions or viewpoint of normxxx. They are provided for informational/educational purposes only.

-- posted by Normxxx

Top 582. Feb 7, 2006 12:10 PM

» Kirk - Re: Gold and Silver Seasonals

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In response to Gold and Silver Seasonals posted by Normxxx:

Nice chart. Good to see your postings again. Taking a break from Wiki?

Gold is sure a long way above its 200 DMA... $470-$520 perhaps for a correction?

I have no position in metals but the gold in a ring. smile

-- posted by Kirk

Top 583. Feb 7, 2006 12:26 PM

» Normxxx - Re: Re: Gold and Silver Seasonals

In response to Re: Gold and Silver Seasonals posted by Kirk:

Yes and no. Actually, I have been posting sporadically, but the market is maximally dull here— so, I have mostly been taking a break from the market! I don't expect this year to be greatly different from last year, except for a heavier (stock market) bias to the downside (and maybe ending as much as 5% - 10% off), but much more volatile. But, it gets boring saying the same things over and over again.

P.S. I closed out all of my stocks yesterday; even my 'seasonals.' Looks like it was seasonal! But I am not looking for any rout here; just a graduual sinking before the (usual?) March/April upturn and the final April/May downturn. From here on out (until the fall, when I expect to 'load up,' I will just ST trade.

-- posted by Normxxx

Top 584. Feb 7, 2006 2:28 PM

» allancoleman - Re: Gold and Silver Seasonals

In response to Re: Re: Gold and Silver Seasonals posted by Normxxx:

thanks for the update on your present market positions . i'm pretty light myself with only a 2.36% stock market position left in my Magellan fund in my Roth that is close to breaking even on my losses suffered since i left it in the market at the beginning of this secular bear market in 2000 .

i too expect opportunities later this year . once again , welcome back

-- posted by allancoleman