Gold dropping

http://finance.yahoo.com/news/gold-may- ... 3QD;_ylv=3

Price of Gold is dropping sharply on the strong dollar. Down 18% from peak, and yesterday broke the 200 day MA, which is usually a bad sign. Looks like the up trend may be broken? Or it could be a good entry point, hard to tell. Any gold traders out there? I have a little GLD, trying to decide if I should dump it or buy more. Maybe I'll flip a gold coin. LOL

Gold may extend a rout into a fourth straight day as a rally in the dollar erodes demand for the metal as an alternative investment, raising the prospect that the commodity may tumble into a bear market.

http://chart.finance.yahoo.com/z?s=GLD&t=1y&q=b&l=on&z=l&a=v&p=m200&lang=en-US&region=US

I have tried to catch many falling knifes in my day but usually just end up bloody.

Joe wrote: may be broken? Or it could be a good entry point, hard to tell. Any gold traders out there? I have a little GLD, trying to decide if I should dump it or buy more. Maybe I'll flip a gold coin. LOL

Sell puts?

Dump it.

Haha! I don't do options anymore Neptune, I'm just slowly building up my IRA again. Not doing anything today, rather wait until the dust settles! I never really liked gold much, but with the way governments are running deficits and printing money, it may be good to have a small position of 5-10% or so.

I think the weak Euro is the story, not so much a strong dollar. I can't think of any good investments right now.

Don't sell.

This is temporary.

Gold will go up next year and hit new highs.

best advice? don't take investing advice from posters on a message board

archer wrote: best advice? don't take investing advice from posters on a message board

Why not? "Experts" were telling people to buy, buy, buy right up to the last stock market crash.

I doubt that random nitwits on a message board would do much worse.

Even with inflation eroding my cash about 8% per year, is still seems smarter than gold of going back into the market.

AspenValley wrote:

archer wrote: best advice? don't take investing advice from posters on a message board

Why not? "Experts" were telling people to buy, buy, buy right up to the last stock market crash.

I doubt that random nitwits on a message board would do much worse.

The experts may be able to see a little more into the haze of the crystal ball future, but sometimes they get caught up in the madness. I knew a decade ago housing was getting too expensive considering wages were stagnant, especially in those hotspots like Florida where homes were doubling in price in five years.