Cron, what do you think about Gold now?

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Tomanyiron
Posts: 4973
Joined: Mon Apr 26, 2010 6:39 am

Cron, what do you think about Gold now?

Post by Tomanyiron »

Gold Miners ETF (GDX) appears to me to be forming a large inverse head and shoulders bottom, (Looks like a bat hanging up-side down). Right now it’s working on the right shoulder. I think GDX could break out through its neckline for a minimum target of 50.

So what does this mean for the TSP funds, that's what I'm asking you Cron? Does Gold have an inverse relationship with the dollar? Does the stock market also have a deep connection to the metal? Does Gold tend to do well when the stock market gets skittish? Presumably, you know the answers to these questions. I can’t find a chart that PROVES the correlations, only few suggestions. That's why I'm asking you.

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crondanet5
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Joined: Tue Aug 19, 2008 8:51 pm

Re: Cron, what do you think about Gold now?

Post by crondanet5 »

You ask tough questions. I've dabbled in silver, never the miners. Over the last 2 years I've listened to Fast Money traders either praise or curse the miners for either moving up in value or costing the trader money. It seems range bound. As you know I like to buy and sell stocks preferably in ten minutes of ownership. So I am not a buy and hold person. If you were to buy GDX I would set a specific desired profit figure and sell it. You would have to buy a large volume of shares to make it worthwhile. I would not dawdle in the owning of GDX.

As for its implications of what might happen to the market I would suggest that the fluttering of butterfly wings in Brazil causing a hurricane in Hawaii has more merit than GDX predicting where the TSP Funds would go. Too moot to postulate. But that's me. I am sure there are much better analysts on this site who can provide better insight.

I note the market is performing exactly as we thought. A few more days...

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Tomanyiron
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Re: Cron, what do you think about Gold now?

Post by Tomanyiron »

crondanet5 wrote:I note the market is performing exactly as we thought.....


Not the F-inagling Fund :cry: or the I-rrational Fund :shock:
"A good decision is based on knowledge and not on numbers." Plato
"Perfect numbers like perfect men are very rare." Rene Descartes

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USA
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Joined: Sun Feb 26, 2017 7:57 pm

Re: Cron, what do you think about Gold now?

Post by USA »

Tomanyiron wrote:
crondanet5 wrote:I note the market is performing exactly as we thought.....


Not the F-inagling Fund :cry: or the I-rrational Fund :shock:


LOL...good one. :lol:
MAKE AMERICA GREAT AGAIN

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Fund Prices2024-03-27

FundPriceDayYTD
G $18.14 0.01% 1.00%
F $19.09 0.26% -0.68%
C $82.11 0.87% 10.42%
S $82.19 1.48% 6.61%
I $42.68 0.56% 6.21%
L2065 $16.38 0.84% 8.36%
L2060 $16.38 0.84% 8.36%
L2055 $16.39 0.84% 8.36%
L2050 $32.73 0.71% 6.94%
L2045 $14.91 0.67% 6.56%
L2040 $54.37 0.63% 6.20%
L2035 $14.34 0.58% 5.77%
L2030 $47.66 0.53% 5.35%
L2025 $13.14 0.31% 3.40%
Linc $25.60 0.24% 2.79%

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