RE:RE:Gold price cap .. Tough balancing act.$2181.74 - yep .. saw that. Pleasantly surprised to see no real volume (evidence of effort) at all - yet. **yet**. As I type, the bid ticked up .. .93 for 12k bid now .. I havent submitted my probing order yet .. lol
Wait for it ? Hopefully, (I have my reservations), this is more of a staging move to $1300.00
MMs holding it down - not sure why, indeed if but it sure feels that way no?
I was thinking same, in that Barrick sold too cheap and are now anglng to get it back? I dont give that much credence though .. but then .. who knows .. I don't. I wonder what Barrack would offer - lol .. It's JMO, but I doubt it.
Rather, I think MMs can see how easily they have been able to take it up and down. They ALWAYS short it up, then take it down to collect their seemingly effortless and almost daily profit. And lets not forget .. there are no people involved other than a supervisor with level 3 to monitor the algos who are doing the actual real trading.
Finally, watching the trading here for the past while .. there really are a bunch of nervous nellies around, also there appears to be a large seller present still - IMO. Perhaps the facilitators of the latest PP.
My advice is find your price point for entry - something you'd be willing to pay .. and then hold it.
HFTs will kill you. Stop hunts will kill you.
I never use stops. (stop-loss orders). Algos can see your orders and its nothing now to ripple the PPS so that stops can be swept. E.G. price is .90 Your buy went through an hour ago for say .. .93 and your stop-loss is set to say .. .86 .. well you know the rest ..
More often than not, they will pull the bid-floor, drop the price, sweep your stop, then run it up (make newbies chase it.)
Again .. all JMO but I've watched time and again ..
GLTY/A
No, as I have posted previously, now is the time for old-school investing principles. Find value, buy and hold. The new caveat however, and this is important, is that, these days, one must almost always be on the puter ready to trade, if not, you will miss the opp.
Has been my personal experience a number of times. So now I work for myself, at home, on the puter all day, except for exercise breaks lol, but even then, my dumbells and machine are right here next to the puter.