My Precious Metals Targets
Posted by Frugal on March 4th, 2008
Here are my targets for the next PM top:
gold at $1130.
silver at $26.
HUI at 573.
XAU at 230.
GDX at 62.
I will reveal how I reach these numbers, but frankly, whether I arrive these numbers by the best technical analysis or exotic nonlinear mathematics, it doesn’t really matter. It’s not like if I can elaborate very well about these numbers, my “theories” will have validities. No one can ever predict the markets with very high accuracies. They are just a guess from me. And your guess can easily be better than mine.
If the intermediate trend reverses right about here, then here are my downside targets:
gold at $800.
silver at $16.
HUI at 400.
XAU at 160.
GDX at 43.5.
Obviously, if you get the direction incorrect, you will be looking at big losses.
I do NOT recommend getting into PM right now. It can FALL anytime.
Good luck trading.
Frugal at 1stMillionAt33.com
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March 5th, 2008 at 8:46 am
I have a fairly large portion of my portfolio in precious metals right now, and I don’t feel too bad about it. I know, I know diversification and all that. But with the weak dollar ( which I think will get weaker ), I feel very strongly about gold & silver upsides. $1500 gold before the end of the year… maybe even $30 silver. Buyer beware of course, but I’m not running for the hills yet, and I’ll consider further investment.
March 10th, 2008 at 12:48 am
I am actually considering selling my silver. Now that the price is high, it might be time to lock in some profits.
April 8th, 2008 at 1:56 pm
Call me an optimist, but I think there’s a lot of steam left in silver. Maybe sell *some* of your silver to lock in part of the profits, but I wouldn’t go crazy and unload it all. Keep a chunk around to see what happens.
May 22nd, 2008 at 3:44 am
Now you do not need to pay commission for gold trading anymore.
Look at the link:
http://basemetal-trading.blogspot.com/2008/05/no-need-to-pay-commission-for-gold.html
May 23rd, 2008 at 3:53 am
As a trader, I like to do back-testing for the product that I’m trading in. The purpose of the back-testing is to find which techique is BEST to use as an indicator.
To view my findings: http://AllAboutOil.blogspot.com/